Sprint Says C & W Takeover Not Possible

Sprint Corp. said a takeover of the company by Britain’s Cable & Wireless “could not be possible” because of agreements with France Telecom and Deutsche Telekom, which own pieces of Sprint. The Wall Street Journal reported Wednesday that Cable & Wireless was considering a takeover bid worth at least $15 billion for Sprint, the No. 3 U.S. long-distance company. The report also said C&W;, Britain’s second-largest telephone company, has negotiated with France Telecom, which owns 10% of Sprint, to line up support for a bid. France Telecom denied that it was in such talks. Despite the denials, the report sent Sprint’s stock soaring up $2 to close at $45.125 on the New York Stock Exchange.