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Technology Stocks : WCOM -- Ignore unavailable to you. Want to Upgrade?

To: rachel who wrote (6827)	6/21/2000 5:10:00 PM
From: MGV	Respond to of 11568

-- =DJ WorldCom-Sprint -2: BellSouth Not Likely Sprint Suitor -- Many believe U.S. and foreign regulators are rattling their sabers to gain concessions from WorldCom and Sprint. "I think there's a good chance they can come up with reasonable concessions," Wachovia's Shook said. "It just depends on if the sides are too far apart to reach middle ground." WorldCom wooed Sprint this fall after battling a bid by BellSouth Corp. (BLS), which many see as a logical partner for Sprint if the deal is blocked. But such a partnership might be more difficult to achieve now that BellSouth and SBC Communications Inc. (SBC) have embarked on a wireless joint venture. Sprint's wireless property, which trades as PCS Group (PCS), is a valuable asset. It has historically seen the largest organic customer growth of any of the wireless service providers. But Sprint's wireless network is based on a different technology than BellSouth's. Also, since Sprint rejected its proposal, BellSouth has developed business plans that seemingly take it further away from a bid for Sprint's overall business. The company has announced European partnerships and a tracking stock for its wireless properties in Latin America. "We don't talk about merger and acquisition activity," said BellSouth spokesman Jeff Battcher. "However, we're a totally different company than we were last September." BellSouth still has not received permission to offer long-distance within its nine-state local service area. WorldCom and Sprint officials knew going into their marriage that gaining regulatory approval would be difficult. On the day the definitive deal was announced, Federal Communications Commission Chairman William Kennard questioned whether it would be good for consumers. Within the last month, sources inside the Justice Department have leaked the agency's apparent opposition to the merger. Last week, Sprint Chairman William Esrey told shareholders he is uncertain if the $115 billion merger would pass regulatory muster. WorldCom Chief Executive Bernie Ebbers recently suggested he would consider selling WorldCom to a foreign company if the deal does not go through. Whatever the future possibilities, sources inside WorldCom insist the deal is not dead. Wall Street observers believe if any company can push such a deal through, it is WorldCom, which has absorbed more than 60 companies in the past decade. (END) DOW JONES NEWS 06-21-00 03:23 PM- - 03 23 PM EDT 06-21-00