Sprint to Get Cash Infusion With Deal to Sell and Lease Back Devices

"Transaction, for $1.1 billion, would essentially act as a loan Sprint Corp. took a big, if unusual, step on Friday to address its cash woes and take some risk off its books. The carrier, which has been losing customers and money for years, said it would get a $1.1 billion cash infusion through a deal to sell certain handsets and other devices it has leased to its customers."
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Money-losing and debt-burdened Sprint has come up with a lifeline to get a cash infusion while it contiues to turn around its fortunes. 

"Transaction, for $1.1 billion, would essentially act as a loan Sprint Corp. took a big, if unusual, step on Friday to address its cash woes and take some risk off its books. The carrier, which has been losing customers and money for years, said it would get a $1.1 billion cash infusion through a deal to sell certain handsets and other devices it has leased to its customers."

Read More at The Wall Street Journal

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