In a highly unusual move, Sprint has issued a statement denying newspaper reports that Cable & Wireless is about to acquire an 80 per cent stake in the company (see yesterday's story).
Departing from normal corporate policy of not commenting on merger rumours, Sprint chief executive William Esrey told investors: ?Sprint does not normally comment on rumours, but in this case, a reported deal with Cable & Wireless supported by France Telecom could not be possible because of the terms of a standstill agreement Sprint has with France Telecom and Deutsche Telekom.?
France Telecom has also issued a total denial of the story.
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