S&P 500: Sprint Is Out, Nielsen Is In

by Christopher Freeburn | July 2, 2013 9:42 am

S&P 500: Sprint Is Out, Nielsen Is In

NYSE traders trading floor watch 630 flickr 300x200  S&P 500: Sprint Is Out, Nielsen Is In[1]Shares of Nielsen Holdings (NLSN[2]) surged almost 3% in Tuesday morning trading after it was announced that the company will be added to the S&P 500 index[3].

Nielsen will replace Sprint (S[4]), the nation’s third largest wireless carrier, which is about to complete its partial merger with a Japanese telecommunications giant Softbank. The consumer tracking firm will join the S&P 500 index after the end of trading on July 8, the Associated Press notes.

Softbank announced its plans to purchase a 70% stake in Sprint last year[5]. After the acquisition is finished, Sprint’s publicly traded shares will drop below the 50% criteria required for listing on the S&P 500.

Last year, Nielsen announced plans to acquire Arbitron Holdings for $1.26 billion[6]. The company has also partnered with Twitter to increase its standing in social media.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/07/NYSE_traders_trading_floor_watch_630_flickr.jpg
  2. NLSN: http://studio-5.financialcontent.com/investplace/quote?Symbol=NLSN
  3. will be added to the S&P 500 index: http://www.businessweek.com/ap/2013-07-01/nielsen-to-be-replace-sprint-nextel-in-s-and-p-500
  4. S: http://studio-5.financialcontent.com/investplace/quote?Symbol=S
  5. purchase a 70% stake in Sprint last year: http://investorplace.com/2012/10/so-what-do-we-do-with-sprint-now/
  6. plans to acquire Arbitron Holdings for $1.26 billion: http://$1.26billion

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