Verizon Wireless CEO says no interest in Sprint deal

ORLANDO, Florida Mon Mar 21, 2011 11:07pm EDT

Related Topics

ORLANDO, Florida (Reuters) - The chief executive of Verizon Wireless said he has no interest in buying Sprint Nextel Corp (S.N) even as the company stands to lose its top position in the U.S. wireless market because of a merger between AT&T Inc (T.N) and T-Mobile USA.

Verizon Wireless CEO Daniel Mead also said he would not oppose AT&T's plans to buy Deutsche Telekom's (DTEGn.DE) T-Mobile USA for $39 billion.

The CEO said the company did not want to be distracted from its goal of being the most profitable U.S. wireless operator. Verizon Wireless is a joint venture of Verizon Communications (VZ.N) and Vodafone Group (VOD.L).

"We're not interested in Sprint. We don't need them," said Mead, speaking to Reuters ahead of the CTIA Wireless Conference.

AT&T announced plans on Sunday to buy T-Mobile USA in a massive deal to create a new U.S. mobile market leader.

Mead said U.S. regulators would likely approve the AT&T/T-Mobile deal if the companies agreed to certain conditions. AT&T is expected to have to sell some assets in order to get regulators to approve the deal.

"Anything can go through if you make enough concessions," Mead said.

(Reporting by Sinead Carew, writing by Lewis Krauskopf in New York; Editing by Vinu Pilakkott)

FILED UNDER:
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (2)
Tkdcorp wrote:
Good move by Verizon, they know if this sale goes through alot of T-Mobile customers will switch to Verizon. Why because almost 60% of customers left AT&T to T-Mobile.

Mar 22, 2011 2:03pm EDT  --  Report as abuse
debo7debo wrote:
Actually, it may not work in their favor only because I have a friend who just asked me today about Verizon Wireless plans, because they are thinking of switching over since they heard about the merger.

Mar 22, 2011 4:41pm EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.