MCI to buy Sprint in swap of stock for $108 billion; a flurry of bids; BellSouth offer spurned - acquisition would be biggest ever

Article Abstract:

America's second-biggest long distance telephone company, MCI Worldcom is buying Sprint Corp. in a $108 billion stock swap. BellSouth had bid $100 billion to purchase Sprint last week which prompted MCI to raise its offer, as MCI and Sprint had been in talks for weeks and BellSouth's bid was unsolicited. The combined companies will still generate less revenue than main rival AT&T. The Federal Communications Commission is expected to approve the merger although may request the divestiture of some assets because the merger will create a large company that will decrease competition. The first ten years of the new century will probably be dominated by a few large telecommunications companies, able to offer wireless, telephone, long-distance and data services in any area of the US.

Acquisitions & mergers, Long Distance Telephone Svc, Long distance telephone services

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Dueling bids emerge for Sprint, 3rd-largest long-distance carrier

Article Abstract:

Sprint has recently been in the midst of one of the biggest takeovers yet. A bidding war has started over who will acquire Sprint. Will it be MCI Worldcom Inc. or will it be the BellSouth Corporation to win the prize? It seems that insiders say that MCI will come out the victor but only time will tell.

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