FORT LAUDERDALE, FLA. (06/27/2000) - The U.S. Department of Justice (DOJ) will hold a press conference today at 11 a.m. EDT in which it is expected to announce it will file a lawsuit to block the planned US$129 billion merger between WorldCom Inc. and Sprint Corp.
WorldCom released a short statement this morning saying it had been notified of the DOJ's intent to file a lawsuit.
"WorldCom will promptly review its options with Sprint," WorldCom said in a statement today.
Meanwhile, Sprint also put out a statement saying it had been notified of the DOJ's intentions.
"We are disappointed that we have been unable to convince the Justice Department that the merger is in the best interest of the American public and would advance competition," Sprint said in its statement.
The companies announced their intentions to merge in October of last year.
More details to follow.