Sprint Plunges on Concern Over 4G, iPhone Costs

Sprint Nextel Corp. shares fell Monday to their lowest level since February 2009 on continued concerns about the costs from rolling out a fourth-generation wireless network and selling Apple Inc. iPhones.

Monday, Standard & Poor’s warned that it could downgrade Sprint’s debt further into junk territory, citing the likelihood the carrier would spend more money than it takes in through 2013 and the potential for it to refinance its debt.

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