Verizon Wireless CEO says no interest in Sprint deal
By Sinead Carew
ORLANDO, Florida | Mon Mar 21, 2011 11:07pm EDT
(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)
Credit: Reuters (www.reuters.com)
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