Justice pulls plug on merger

Article Abstract:

The Justice Dept has decided to oppose WorldCom Inc's proposed $115 billion acquisition of Sprint Corp on the grounds that their merger could harm competition in the long-distance and Internet markets. Industry experts expect both firms to call off their deal and look for other partners. Industry observers opine that the Justice Dept's refusal to agree to the WorldCom-Sprint merger signals a renewed activism on the part of government regulators. Justice Dept antitrust official Joel Klein, however, disagrees, saying that his agency did not block a number of mega- mergers in the telecommunications industry.

Government regulation (cont), Telecommunications, MCI Inc.

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Deutsche Telekom's interest in VoiceStream has skeptics

Article Abstract:

Industry observers believe the real reason behind Deutsche Telekom's planned buyout of VoiceStream Wireless is to force Sprint to lower its asking price from $76 to $65 per share, Deutsche's bid price for Sprint. The acquisition of VoiceStream is an indication that Deutsche has other options besides Sprint. Deutsche may supplement the acquisition of VoiceStream by buying a major telephone and Internet carrier such as Qwest Communications.

Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Germany, Cellular Mobile Radio Services, Cellular and Other Wireless Telecommunications, Cellular telephone services, Deutsche Telekom, VoiceStream Wireless

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