Qualcomm Inc (QCOM)

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RPT-UPDATE 2-Verizon unlikely to bid now for Sprint-sources
Tue Dec 14, 2004 01:29 PM ET
(Repeats with change to headline or text)
By Jessica Hall

PHILADELPHIA, Dec 14 (Reuters) - Verizon Communications Inc. (VZ.N: Quote, Profile, Research) has no imminent plans to bid for Sprint Corp. (FON.N: Quote, Profile, Research) , people familiar with the situation said on Tuesday, lifting a potential obstacle to Sprint's bid for Nextel Communications Inc. (NXTL.O: Quote, Profile, Research) .

Separately, Britain's Vodafone Group Plc (VOD.L: Quote, Profile, Research) denied it was in talks with Verizon, its wireless joint venture partner, about any offer for Sprint.

The two developments appeared to contradict a report earlier on Tuesday by the Wall Street Journal, which said Verizon had gained the backing of Vodafone to make a bid for Sprint in a move that could thwart Sprint's $35 billion bid for Nextel.

The deal between Sprint and Nextel is expected to be announced on Wednesday, sources familiar with that deal said.

Verizon has no plans to thwart that deal with a rival bid, people familiar with the matter said.

Verizon declined to comment. Sprint and Nextel could not immediately be reached for comment.

http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=7092234