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Competition has produced a price war in the long-distance market. This merger appears to be a surrender. If approved, the combined company would control more than a third of the long-distance market. He also fired a potent salvo in the battle to sway regulators, contending that the company will offer high-speed Internet and other phone services to consumers. For each share of Sprint PCS tracking stock, it will swap one share of a new WorldCom PCS tracking stock plus 0.1547 shares of MCI WorldCom stock.