Sprint-Nextel Merger To Close Friday

The merger will give the new company more than 40 million subscribers, making it the third largest cellular operator in the U.S. behind Cingular and Verizon Wireless. The proposed merger was first announced last December.

The deal recently received approval from both the U.S. Department of Justice and Federal Communications Commission. It was the latest in a round of consolidation that included Cingular's acquisition of AT&T Wireless.