Merger Block
Things are getting complicated in CellVille.Britain's Vodafone says it is supporting Verizon Communications'
potential bid for Sprint, a Wall Street Journal article reported.
Sprint, the No. 3 U.S. long-distance phone and wireless company, was
expected to discuss the potential offer from Verizon, the largest U.S.
phone company. Vodafone's insertion of itself into the process appears
to strengthen Verizon's position and jeopardize Sprint's tentative $35
billion merger deal with Nextel, the No. 5 wireless company in the
United States. Verizon Wireless is the nation's second-largest
wireless operator. If it bought Sprint it would have more than 65
million customers. Such a gargantuan takeover would not only mark a
new chapter in the Street's history books--it would put VZ back in the
top spot, a position usurped from Cingular/AT&T after their coupling
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