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MCI WorldCom, BellSouth in Race for Sprint.
Knight Ridder/Tribune Business News, October, 1999 by Schoolman, Judith
Knight Ridder/Tribune Business News
Oct. 5 -- Sprint appears to be the focus of what will likely be the most expensive bidding war in history, as suitors MCI WorldCom and BellSouth weighed in with increasingly pricey offers for the No. 3 long distance carrier.
While MCI WorldCom had been an early favorite, with an all-stock deal worth more than $90 billion, a sweetened offer by BellSouth upped the ante to near $100 billion, including corporate debt.
A marriage of Sprint with No. 2 MCI WorldCom would create a powerhouse with a more than 30 percent share of the long distance market, a serious challenge to the telecom dominance of AT&T.
While none of the companies would officially comment, industry insiders said Sprint's board of...
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