December 26, 2004 08:42 AM
Verizon Bid For Sprint Called Unlikely
Excerpt: Despite rumors of Verizon's interest in acquiring Sprint, the big Northeastern phone company is unlikely to make a bid given high regulatory and financial hurdles, analysts say.
Despite rumors of Verizon's interest in acquiring Sprint, the big Northeastern phone company is unlikely to make a bid given high regulatory and financial hurdles, analysts say.
Reports of Verizon's interest have intensified amid apparent merger discussions between Sprint (FON: news, chart, profile) and Nextel Communications (NXTL: news, chart, profile). The companies reportedly will announce the deal Wednesday morning.
Earlier Tuesday, Verizon was reported to have gained the support of U.K.-based partner Vodafone (VOD: news, chart, profile) in a possible bid for Sprint. Yet the British company quickly issued a denial, telling CBS MarketWatch that it was "not in discussions" with Verizon about such a deal.
Vodafone has repeatedly said it's not interested in obtaining more U.S. assets. The company owns about 45 percent of Verizon's wireless business.
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