by Christopher Freeburn | July 2, 2013 9:42 am
Shares of Nielsen Holdings (NLSN) surged almost 3% in Tuesday morning trading after it was announced that the company will be added to the S&P 500 index.
Nielsen will replace Sprint (S), 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. 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. The company has also partnered with Twitter to increase its standing in social media.
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