Sprint brands local spinoff
Sprint Nextel unveiled the brand name Embarq for its local telco spinoff. Dan Hesse, the new company’s designated CEO, made the announcement to employees yesterday.
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Sprint Nextel expects to complete the spin-off in the second quarter of this year, after which it will begin using the new corporate name. Additionally, the company will trade on the New York Stock Exchange under the symbol EQ.
"The company's new name, Embarq, and logo are meant to signal the way we will do business and establish what a next-generation local communications company can be," Hesse said in a prepared statement.
As a separate company, Embarq will be the largest independent telco with 7.4 million local access lines and $6 billion in annual revenues.
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