EU panel clears MCI plan to sell Internet assets
Article Abstract:
MCI Communication's plan to sell its Internet assets, as a step toward its proposed $37 billion merger with WorldCom Inc., was approved by the usually hardline European Union's antitrust regulators in Brussels. But officials will still require that MCI and WorldCom meet a number of conditions, such as an assurance that both companies will not recruit customers they are to relinquish, the sale of MCI's corporate and consumer accounts, and MCI's divestiture of its Intranet corporate networking business.
Comment:
WorldCom moves toward merger with MCI after European Union approval of MCI's Internet assets sale
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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MCI offers to sell assets to speed deal
Article Abstract:
MCI Communications Corp. led by Chairman Bert C. Roberts Jr. met with Joel Klein, Justice Department antitrust chief, and offered to sell additional MCI interests in an attempt to speed up US approval of the company's $37 billion acquisition by WorldCom Inc. Lawyers familiar with the situation say that the Justice Department has assured approval of the acquisition if either MCI or WorldCom would sell its complete Internet business.
Comment:
MCI met w/ Justice Dept to speed up approval of acq by co
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: EU panels clears MCI plan to sell Internet assets. MCI is selling wholesale Internet unit, but European trust issues may remain
- Abstracts: British company to acquire MCIs Internet business. AT&T and British Telecom merge overseas operations. MCI to sell wholesale Internet unit to Cable and Wireless
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