Sprint to raise $4 billion

Sprint plans to raise up to $4 billion in the next couple of years, the company has told the Securities and Exchange Commission. The Kansas City, Mo.-based communications carrier on Friday notified the SEC of its intentions to raise the capital, but did not specify whether it would be by offering stock or selling some of its debt. Once the cash is raised, Sprint executives said about $3 billion will likely be used to upgrade Sprint's wireless phone network so it can offer the higher-speed, always-on Internet and phone service associated with third-generation mobile telephone networks.