| |||||||||||
| |||||||||||
Former Nextel chief Tim Donahue attempted to secure the vacant CEO suite of Sprint Nextel Corp. by teaming with SK Telecom and Providence Equity Partners, according to The Wall Street Journal.
Last week, the consortium reportedly offered to invest $5 billion in the form of securities convertible into equity after some period of time, at a stock price that is 20% to 30% higher than Sprint's share price Thursday, unnamed sources told the Journal. As CEO of Nextel, Donahue was one of the key dealmakers involved in the 2004 merger of the two wireless providers. Upon completion of the deal, Donahue took the chairmanship, and Sprint chief Gary Forsee became CEO. Donahue left last year, and investor dissatisfaction with the languishing post-merger integration of the two led to Forsee quitting last month. — Matthew Wurtzel See story from The Wall Street Journal CategoriesPrivate capital video
Categories
Blog roll
Archives
| |||||||||||
|
|
|
|
|
