Motorola To Get Cash, Stock In Exchange For Nextel Stock"

WASHINGTON -(Dow Jones)- Motorola Inc. (MOT) said Friday that it will receive 69.3 million shares of Sprint Nextel Corp. (S) stock and $46.3 million in cash in exchange for its 54.7 million shares of Nextel Communications Inc. stock.

Motorola said in a filing with the Securities and Exchange Commission that it expects to realize a $780 million after-tax gain in its third quarter as a result of the transaction.

As previously disclosed in December, Motorola agreed to a $50 million fee to keep 37.6 million of its Sprint Nextel shares for a period ending no later than Dec. 31, 2006.

Sprint Nextel shares closed at $25.95 apiece Friday, down 10 cents from Thursday's close.

-By Nicolas Brulliard; Dow Jones Newswires; 202-862-1351; nicolas.brulliard@dowjones.com

(END) Dow Jones Newswires"

Posted to the site on 20th August 2005