SPRINT DISCUSSES MERGER WITH MCI WORLDCOM.Byline: Bridge News Shares of MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. WorldCom Inc. fell sharply Friday, while Sprint Corp. stock received a boost, following a report that the two long-distance telephone companies are discussing a merger. The move would combine the second- and third-largest long-distance carriers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , though crucial obstacles remain, the Wall Street Journal said, quoting people familiar with the talks. Sprint has been talking with several telecommunications giants, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the newspaper, but negotiations with MCI WorldCom have gathered momentum recently. Both sides have reportedly discussed a financial structure for a deal in which MCI WorldCom would acquire Sprint's core business for stock. MCI WorldCom also would swap Sprint's existing tracking stock for a new WorldCom tracking stock. A deal between Jackson, Miss.,-based MCI WorldCom and Sprint, headquartered in Westwood, Kansas, would attract scrutiny by regulators. Together, the companies would hold about 30 percent of the U.S. consumer long-distance market. AT&T holds about 60 percent. Sprint is valued at almost $40 billion, and its wireless business, which it separated into its distinct PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. tracking stock, is valued at about $33 billion. However, MCI WorldCom has a much higher valuation of about $151 billion, topping AT&T Corp.'s $140 billion valuation. In Friday's trading, MCI WorldCom fell $2.375 per share to $76.125 on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. . Sprint's stock rose $2.875 to $54 and Sprint PCS fell $1 to $73.50, both on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . |
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