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Sprint posts huge loss, scraps dividends |
NEW YORK (Reuters) - Sprint Nextel Corp posted a quarterly loss of $29.45 billion on Thursday due to a huge goodwill write-off and forecast deepening subscriber losses, pushing its stock down as much as 13 percent to a five-year low.
The No. 3 U.S. mobile service said it would stop paying dividends for the foreseeable future, and Chief Executive Dan Hesse said it would take many quarters to turn the company around and rebuild its brand.












