SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
Date of Report (Date of earliest event reported) October 28, 1998
SPRINT CORPORATION
(Exact name of Registrant as specified in its charter)
Kansas 0-4721 48-0457967
(State of (Commission (I.R.S. Employer
Incorporation) File Number) Identification No.)
2330 Shawnee Mission Parkway, Westwood, Kansas 66205
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (913) 624-3000
(Former name or former address, if changed since last report)
P. O. Box 11315, Kansas City, Missouri 64112
(Mailing address of principal executive offices)
<PAGE>
Item 5. Other Events
On October 28, 1998, the registrant announced that it had
elected to delay a planned public offering of a newly created
class of common stock (the "PCS Stock") due to current general
market conditions. The registrant will continue to evaluate
market conditions and may proceed with a public offering of the
PCS Stock at a later date. A special meeting of shareholders has
been scheduled for November 13, 1998 to vote on the restructuring
of the registrant's PCS wireless operations, the issuance of PCS
Stock and FON Stock, the recapitalization of the registrant's
existing common stock into PCS Stock and FON Stock and related
matters. Assuming shareholder approval, the recapitalization of
the registrant's common stock is expected to occur approximately
ten days after the shareholder vote. Additional information
concerning the announcement is contained in the news release, a
copy of which is filed as Exhibit 99 to this report and is
incorporated in this report by reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
99. News Release Relating to Delay of Public Offering
Related to Sprint PCS Restructuring
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
SPRINT CORPORATION
By /s/ Michael T. Hyde
Michael T. Hyde
Assistant Secretary
Dated: October 30, 1998
<PAGE>
EXHIBIT INDEX
Exhibit
Number Description Page
99. News Release Relating to Delay of Public Offering
Related to Sprint PCS Restructuring
<PAGE>
Exhibit 99
Contact:
Mark Bonavia, Sprint (0) 913-624-3552
E-Mail: [email protected]
Bill White, Sprint (0) 913-624-2226
E-Mail: [email protected]
SPRINT TO PROCEED WITH RECAPITALIZATION, DELAY PUBLIC
OFFERING RELATED TO SPRINT PCS RESTRUCTURING
KANSAS CITY, Mo., Oct. 28, 1998 - Sprint today
announced it has elected to proceed with a tax-free
recapitalization of Sprint's common stock to complete the
restructuring of Sprint PCS and delay a planned public
offering of a newly created class of Sprint common stock
(the "PCS Stock"). Sprint has decided to delay the public
offering due to current general market conditions. Sprint
will continue to evaluate market conditions and may proceed
with a public offering of the PCS Stock at a later date.
With the recapitalization, each share of Sprint's
publicly-traded common stock will be reclassified into a 1/2
share of PCS Stock and one share of a newly-created class of
Sprint common stock (the "FON Stock"). The PCS Stock is
intended to reflect the performance of Sprint's PCS
operations. The FON Stock is intended to reflect the
performance of Sprint's other operations, including its long
distance and local telecommunications divisions, product
distribution and directory publishing businesses, emerging
non-PCS businesses and the company's interest in Global One.
Sprint will hold a special shareholders meeting Nov. 13
to vote on the restructuring of Sprint PCS, the issuance of
PCS Stock and FON Stock, the recapitalization of the
existing common stock and related matters. The meeting will
be held at Sprint's World Headquarters building, 2330
Shawnee Mission Parkway, Westwood, Kan. The record date for
the determination of shareholders entitled to vote at the
meeting was Oct. 9, 1998. Assuming shareholder approval,
the recapitalization is expected to occur approximately 10
days after the shareholder vote. A proxy statement and
prospectus relating to the meeting can be obtained from
Sprint's Corporate Secretary at Sprint's World Headquarters
address.
<PAGE>
Sprint is a global communications company -- at the
forefront in integrating long distance, local and wireless
communications services and one of the world's largest
carriers of Internet traffic. Sprint built and operates the
United States' only nationwide all-digital, fiber optic
network and is the leader in advanced data communications
services. Sprint has $15 billion in annual revenues and
serves more than 16 million business and residential
customers.
