Sprint posts wider quarterly loss

Oct 25 (Reuters) - Sprint Nextel Corp posted a wider loss in the third quarter as it spent heavily on a network upgrade and lost customers from its iDen network, which it is shutting down.

Sprint, which has agreed to sell a controlling stake to Japan's Softbank Corp for $20 billion, posted a loss of $767 million or 26 cents per share compared with a loss of $301 million or 10 cents per share in the third-quarter a year ago.

Net operating revenue rose to $8.76 billion from $8.33 billion in the year-ago quarter and compared with Wall Street expectations for $8.8 billion, according to Thomson Reuters I/B/E/S.