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Technology Stocks : Qwest Communications (Q) (formerly QWST)
Q 79.24+1.6%Nov 26 3:59 PM EST
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To: Yamakita who wrote (5162)10/1/1999 9:51:00 PM
From: MangoBoy  Read Replies (1) of 6846
 
[BellSouth Said To Be Preparing Bid For Sprint Amid MCI-Sprint Talks]

NEW YORK -(Dow Jones)- BellSouth Corp. is preparing a bid for Sprint Corp., which has been in active negotiations for more than a week with MCI WorldCom, according to a story on Businessweek's on-line news service.

The reported quoted "sources with knowledge of the situation."

For BellSouth (BLS), which has long sat out the merger mania sweeping the telecommunications industry, a deal for all of Sprint's (FON) long-distance, wireless and local operations would give the Atlanta-based Bell operating company the national and international reach it lacks, the BusinessWeek article reported.

According to a report in the Friday Atlanta Journal-Constitution, BellSouth executives also are mulling a second, more conservative option: Waiting to see if MCI WorldCom (WCOM) acquires Sprint, and then making a bid for the portions of Sprint - such as its Internet operations - that MCI WorldCom would likely have to divest to get regulatory approval for such a deal.

But according to BusinessWeek, its sources say that as of Friday, BellSouth executives were leaning toward making a full bid for all of Sprint. One complication is that BellSouth is unlikely to have its counteroffer ready before the Sprint board meets on Oct. 3. Any bid for Sprint likely wouldn't come until the following week, sources told BusinessWeek.

All three companies declined to comment on the situation.
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