Sprint Said to Plan End to Deal With Falcone’s LightSquared
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Sprint Nextel Corp. plans to end a network-sharing agreement with billionaire Philip Falcone’s LightSquared Inc. wireless venture as early as next week, according to two people familiar with the matter.
Sprint is preparing to take the step as LightSquared approaches a March 15 deadline to meet certain conditions under the agreement, said the people, who wouldn’t be identified because the information isn’t public. Sprint and LightSquared struck an 11-year deal to share network expansion costs and equipment in June provided LightSquared secure regulatory approvals for its wireless service by December. Though Sprint pushed the deadline back, it doesn’t plan more extensions, the people said.