Motorola Hedges Sprint Nextel Shares
SCHAUMBURG, Ill. – 8 March 2006 – On Monday, March 6, 2006, Motorola, Inc. (NYSE: MOT) entered into a series of collars to hedge 37.6 million shares of Sprint Nextel Corporation (Sprint Nextel) it owns. Motorola holds approximately 1.25% of Sprint Nextel stock.
Sprint is a significant customer and Motorola has been its sole supplier of iDEN handsets and core iDEN network infrastructure equipment for over ten years. Motorola is currently operating under supply agreements for iDEN handsets and infrastructure equipment through December 2007. Motorola continues to have great confidence in the ongoing success of the Motorola Sprint Nextel relationship.
Motorola is known around the world for innovation and leadership in wireless and broadband communications. Inspired by our vision of Seamless Mobility, the people of Motorola are committed to helping you get and stay connected simply and seamlessly to the people, information, and entertainment that you want and need. We do this by designing and delivering “must have” products, “must do” experiences and powerful networks -- along with a full complement of support services. A Fortune 100 company with global presence and impact, Motorola had sales of US $36.8 billion in 2005. For more information about our company, our people and our innovations, please visit www.motorola.com.
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