Will my local telephone service change because of this merger?
Sprint local telephone customers will continue enjoy the same service and reliability that they have come to expect from Sprint and will not see any immediate changes to their service as a result of this merger. The Local Telecommunications Division will be part of the merged company until the planned spin-off to a new, separate, publicly-traded company sometime in late 2006. This is a positive growth story that promises to deliver benefits and value to current local telephone service customers, but it is too early to communicate about the changes. The process for gaining state regulatory approvals for the spin-off company is currently under way. We will be filing as required by the majority of the states in which we have wireline local exchange operations seeking change of control from Sprint to a new holding company formed by the merged Sprint and Nextel.
Sprint’s LTD serves approximately 7.5 million local access lines in 18 states and has revenues of about $6 billion annually.
Who will buy it? SBC? Verizon? Qwest?