DT in talks with Sprint.Congratulations Pat:
Frankfurt, April 19 (Bloomberg) -- Deutsche Telekom AG, Europe's No. 1 telephone company, has been
in talks with Sprint Corp. for several weeks about buying all of the No. 3 U.S. long- distance company,
Manager magazine reported in an advance release of its next edition, without citing sources. Sprint's
Chief Executive William Esrey recently threatened to get out of the Global One alliance with Deutsche
Telekom and France Telecom SA, the report said, adding that Sprint has a stock market value of $39.4
billion. Telekom paid $1.8 billion for its 10 percent stake in Sprint three years ago and the 80 percent
of Sprint that is not held by other companies today has a market value of $32 billion, the magazine
reported.
Deutsche Telekom is considering paying as much as 100 billion euros ($107 billion), most or all in
stock, for Telecom Italia SpA, exceeding Olivetti SpA's hostile offer for Italy's largest phone
company, people familiar with Telecom Italia said. (Manager magazine 4/18)
NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min. |
