Qwest Drops Sprint in Favor of Verizon Wireless

By: Associated Press Email
By: Associated Press Email

New York (AP) Qwest communications international will stop reselling Sprint Nextel's wireless service and move its subscribers to Verizon Wireless' network.

The move announced today means Sprint, already struggling with a dwindling customer base, will lose more subscribers. Denver-based Qwest contributed 824,000 to Sprint's rolls of nearly 54 million subscribers at the end of last year.

Sprint shares rose 83 cents, or 11 percent, to close at $8.72.

Qwest says it had signed a five-year contract with Verizon Wireless that will take effect this summer. Financial terms of the deal were not disclosed.

Current wireless subscribers will receive a free, comparable Verizon wireless handset, probably in the last three months of this year.

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