BellSouth May Bid for Sprint, Business Week Online Reports
10/1/99 3:50:00 PM
Source: Bloomberg News
Atlanta, Oct. 1 (Bloomberg) -- BellSouth Corp., which provides local
phone service in nine Southeastern states, is mulling a bid for No. 3
U.S. long-distance carrier Sprint Corp., Business Week Online
reported, citing unidentified sources. The magazine's Web site said
Sprint's local, long-distance and wireless assets would give BellSouth
the national and international reach it lacks. If MCI WorldCom moves to
buy Sprint, BellSouth would then bid for potions of Sprint, such as the
Internet assets MCI WorldCom would likely have to divest to win
approval for the purchase. However, BellSouth is unlikely to have its
counteroffer ready before Sprint's board is scheduled to meet next, on
Oct. 3, the Web site said.
MCI WorldCom and Sprint are
discussing a merger that would give MCI
WorldCom the wireless assets analysts
and investors have said the company
needs, a person familiar with the
negotiations said last Friday. BellSouth
and MCI WorldCom declined to
comment. Sprint wasn't immediately
available to comment. (Business Week
Online 10/1
www.businessweek.com/today.htm)
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