Verizon said the deteriorating financial condition of NorthPoint as the reason for the change in plans.
Price is a mobile phone company operating in Florida and other southern states.
The delay has worsened the already-shaky wireless arena, as falling share value and increased competition has hurt the entire sector. A deal with Nextel would create a wireless giant with 18 million customers and tie the company with SBC Communications for the No. 2 spot after Verizon Wireless, a unit of Verizon Communications. However, the Southern contingent of the union continues to wrangle with management over a few final issues. A final agreement may come as early as today. Verizon negotiators plan to stay at the table even if most union negotiators leave.