Sprint Loses 1M Customers, $505M in Q1

Embattled carrier will cut 4K jobs, close outlets, sell assets
By Jim O'Neill,  Newser User
Posted May 12, 2008 8:11 AM CDT
Deutsche Telekom AG is reportedly mulling a bid to acquire Sprint Nextel Corp., The Wall Street Journal Reported Monday, May 5.   (AP Photo/Frank Augstein, File)
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(Newser) – Sprint Nextel continued to hemorrhage customers in the first quarter, losing more than 1 million subscribers and tallying losses of $505 million, more than double its losses in the same period last year, reports Bloomberg. Sales slipped nearly 8% to $9.33 billion. The carrier, rumored to be a takeover target of Deutsche Telekom, said it would likely sell assets. (Read more Sprint Nextel stories.)