Sprint (S) To Write-Off Most Of NexTel Value

As it to confirm what a disaster its acquisition of NexTel has been, Sprint (S) will write-off as much as $31 billion in goodwill related to the deal.

According to Reuters Sprint "might have to write off all of the $30.7 billion goodwill value from its purchase of Nextel Communications and smaller deals as it struggles with customer losses."

At this point, with its stock down from a 52-week high of $23.42 to $10,50, the entire market cap of the company is only $30 billion.

Douglas A. McIntyre