The deal's demise was widely expected. The U.S. Justice Department moved to block it two weeks ago in its biggest merger challenge ever, and the European Union also sought to halt it. Regulators feared that the merger would cripple competition in the Internet and long-distance telephone markets. In a statement, WorldCom Chief Executive and President Bernard Ebbers said the collapse of the deal would mean less innovation and choice, and higher rates for residential phone service. WorldCom CEO Bernard Ebbers said the deal's collapse would mean less innovation and choice, and higher residential phone rates.
Sprint is a fine company.
We wish them well. Sprint Chairman and Chief Executive William Esrey said Sprint was not discussing a merger with any other company. We're talking to no one. Sprint is not for sale. The merger plan had sparked controversy from the moment it was announced in October.