New Sprint talks reported

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Monday, July 3, 2000 | 11:17 a.m.

German phone giant Deutsche Telekom is in talks to acquire Sprint, the United States' third-largest long-distance carrier and the dominant local phone company in Las Vegas, two newspapers reported.

Deutsche Telekom already owns 10 percent of Sprint, and full acquisition would cost more than $120 billion.

The possibility of a blockbuster trans-Atlantic deal comes after U.S. and European antitrust regulators last week effectively derailed WorldCom's planned $115 billion takeover of Sprint. Regulators expressed concern the deal would lead to higher prices for consumers. The Deutsche Telekom-Sprint talks were reported by USA Today and the German newspaper Welt am Sonntag.

Sprint stock was up $3 to $54 this morning.