Sprint (S) Seeing No Takeover Interest from Verizon (VZ)

CEO of Verizon Communications' (NYSE: VZ) wireless division Daniel Mead said that the company has no interest in acquiring smaller rival Sprint Nextel Corp. (NYSE: S) in the wake of AT&T Inc. (NYSE: T) buying T-Mobile USA from Deutsche Telekom (OTC: DTEGY).

Mead also noted that Verizon will not oppose the $39 billion AT&T/T-Mobile merger, which is sure to face rigorous regulatory scrutiny over the next year.

"We're not interested in Sprint. We don't need them," said Mead.

Mead added that the merger will likely go through if the companies agree on certain conditions, including AT&T selling some assets to appease regulators.

"Anything can go through if you make enough concessions," Mead said.

Shares of Sprint took a nosedive on Monday as investors showed disappointment that the company did not make a play for T-Mobile itself.

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