Feeds

Sprint , WorldCom officially call it off

It was great fun, but it was just one (of those things)

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

Telecomms colossi WorldCom and Sprint have formally cancelled their proposed $120 billion merger as expected in response to considerable opposition from US and European regulatory bodies which attempted to block the deal two weeks ago on grounds that the merger would ruin competition (are you getting this, AOL and Time Warner?).

US Department of Justice (DoJ) antitrust heavyweight Joel Klein applauded the decision. "The merger would have led to higher prices, lower service quality and less innovation for millions of American consumers and businesses," he said by way of a prepared statement.

US analysts speculate that the decision renders both companies vulnerable to take-over bids from elsewhere, but Sprint's CEO rushed to deny it. "Sprint is not for sale," company President and CEO William Esrey declared flatly.

Deutsche Telekom, Nippon Telegraph and Telephone and France Telecom are seen as the prime secondary suitors for Sprint, though BellSouth could possibly give it a second go, after having bid unsuccessfully for Sprint last Fall.

Wall Street investors reacted to the news by bidding up shares of WorldCom 2-7/8 to 47-3/8 in very heavy midday trading, while Sprint shares slid 15/16 to 46-3/8. ®

The Power of One Infographic

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.