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Technology Stocks : Sprint Nextel Corporation (S) -- Ignore unavailable to you. Want to Upgrade?

To: slacker711 who wrote (905)	1/28/2003 2:46:49 PM
From: cfoe	Read Replies (1) \| Respond to of 1691

I also wonder why this has not gotten any attention from anyone on the threads or in either companies stock price. I would think this would be good news. Was it brought up on AWE's call? biz.yahoo.com AT&T Wireless and Sprint to Cooperate in the Construction of New Wireless Towers Tuesday January 28, 9:11 am ET Companies Expect to Lower Capital Expenses REDMOND, Wash. & OVERLAND PARK, Kan.--(BUSINESS WIRE)--Jan. 28, 2003--AT&T Wireless (NYSE:AWE - News) and Sprint (NYSE:FON - News; NYSE:PCS - News) today announced they have signed an agreement through which they will cooperate in the construction of new wireless towers. The agreement will enable the companies to reduce the number of towers they build and the capital expenditures associated with this activity. As such, they plan to expand and enhance their wireless footprints throughout the United States faster and at lower cost. AT&T Wireless and Sprint lead the wireless industry in the number of towers they operate. "This agreement represents a small but important first step for our companies, and potentially, for the wireless industry," said Greg Slemons, executive vice president of Network Services at AT&T Wireless. "Our industry has entered a new phase in its development that calls for creative new solutions that let us do more with less. With this agreement, we expect to reduce capital expenses, accelerate our progress toward profitability, and more rapidly expand the reach and quality of our wireless networks." "Today's announcement is part of Sprint's commitment to serve wireless consumers better," said Kathy Walker, senior vice president of Network Services for Sprint. "This agreement gives us the ability to expand our coverage nationwide, resulting in a broader appeal of wireless services." Under the terms of the agreement, the companies' Network Services groups will share information about their current tower inventories and future construction plans. They will then identify areas of overlap -- for example, a community in which both companies want to build a tower -- and decide which company will build and maintain the tower and which will co-locate its network facilities on it. This approach will reduce redundant construction, making it easier for both companies to serve the communities in which they want to add or expand wireless coverage. In addition to coordinating future tower construction activities, the companies will continue to cooperate on making the best use of their current tower inventories, including co-location when it is appropriate. AT&T Wireless and Sprint expect to begin implementing the agreement in the first quarter of 2003. Financial terms were not disclosed.