Verizon looking at Sprint, report
Scott Moritz at
TheStreet filed a report this afternoon about Verizon looking at a possible Sprint buyout (
sound familiar?). It's still in early stages though:
bq. People close to the Verizon camp say the big telco has started a so-called due diligence process at Sprint. The sources describe the work as at the "fact finding" and information-gathering stage, with no formal discussions under way.
This comes on the same day as Qwest announced a $6.3 billion merger with MCI and just days after
SBC announced a $16 billion merger with AT&T. It's merger mania.
In December 2004 Sprint
announced a merger with Nextel, though the deal is still pending regulatory approval. Sprint is expected to get approval for the deal with few divestitures. A Verizon / Sprint deal would likely see significant regulatory trouble.
