Sprint, Telmex to End Long-Distance Venture

Sprint Corp. and Telefonos de Mexico said they agreed to end a joint venture they formed four years ago to provide long-distance services to the U.S. Latino market. Telmex, the largest telephone company in Mexico, agreed to buy the 50% stake Sprint owns in Telmex-Sprint Communications. Terms of the transaction weren’t disclosed. Sprint said the companies had taken different paths since the venture was started in 1995. For example, while Westwood, Kan.-based Sprint provides Internet services through EarthLink Network Inc., Telmex does so through Prodigy Communications Corp. The dissolution raised speculation on whether Mexico City-based Telmex ended its partnership to have the liberty to join another company in offering long-distance services in the U.S. Sprint shares rose $1.19 to close at $105.63 on the NYSE.