TECHNOLOGY & TELECOMMUNICATIONS

Nynex, Sprint Division Make Long-Distance Deal: Nynex Corp. of New York announced that it has signed a two-year contract with Sprint Communications Co. to sell long-distance service to be delivered over Sprint’s network under the Nynex name. Financial terms were not disclosed. Nynex, a regional Bell operating company, plans to begin offering long-distance in some states outside its own Northeast territory within three months. Sprint will still compete for long-distance business in the areas where Nynex plans to offer it. In NYSE trading, shares of Nynex fell $1.125 to $49.375; Sprint shares rose 87.5 cents to $40.875. Nynex and Bell Atlantic Corp. announced plans for a $22-billion merger deal Monday. A combined Nynex and Bell Atlantic would give Sprint a line into a potentially lucrative phone market.