So far in 2012, Sprint Nextel Corp.’s (NYSE:S) shares are up 13.25%. Last week, the FCC approved changes to the current wireless spectrum allotment, setting the stage for Sprint to broaden its current 3G network and proceed with a 4G LTE service. The agency removed the 800 MHz limit after the company requested the change.
In response to the FCC’s ruling, Sprint said in a statement, “Today’s unanimous vote by the FCC paves the way for Sprint and other 800MHz licensees to deploy advanced 3G and 4G technologies in the band. Doing so will enable a better customer experience for consumers and a more efficient use of spectrum. Sprint appreciates the FCC’s expeditious action to revise an outdated rule and promote broadband competition.”
The company had been planning to first launch LTE in the 1900MHz band (under FCC approval) beginning in either in late 2013 or early 2014, reported PC World.
With the ability to expand its customer offerings and compete with its rivals, will Sprint’s largest shareholders increase their holdings? 373 institutional firms indicated owning shares of Sprint Nextel Corp. (NYSE:S) in Q1 2012. These firms reported owning a total of 1.342 billion shares on 03/31/2012 . The shares closed at $2.85 on 03/31/2012, for an aggregate market value of $3.824 billion.
Here are the ten largest positions in Sprint Nextel Corp. at the end of March 31st, 2012.
Dodge & Cox held 228,986,028 shares on 03/31/2012 worth $652,610,158.
Franklin Resources Inc held 144,738,113 shares on 03/31/2012 worth $412,503,608.
Bank of New York Mellon Corp held 129,338,966 shares on 03/31/2012 worth $368,616,041.
Vanguard Group Inc held 124,599,890 shares on 03/31/2012 worth $355,109,675.
State Street Corp held 113,790,290 shares on 03/31/2012 worth $324,302,316.
Blackrock Institutional Trust Company N.A. held 76,990,765 shares on 03/31/2012 worth $219,423,673.
FMR LLC held 37,238,329 shares on 03/31/2012 worth $106,129,234.
Cooperman Leon G held 32,100,400 shares on 03/31/2012 worth $91,486,137.
Blackrock Fund Advisors held 30,222,741 shares on 03/31/2012 worth $86,134,809.
JPMorgan Chase & Co held 24,806,467 shares on 03/31/2012 worth $70,698,429.
About the company: Sprint Nextel Corporation offers a range of wireless and wireline communications services to consumer, business, and government customers. The Company develops, engineers, and deploys various technologies, including two wireless networks offering mobile data services, instant national and international push-to-talk capabilities, and a global Tier 1 Internet backbone.
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