A milkman becomes king of megadeal

Article Abstract:

MCI WorldCom chairman and CEP Bernard Ebbers has announced a deal to acquire rival long-distance carrier Sprint Corp for $115 deal. The record acquisition caps a seven-year buying spree in which it swallowed 60 telephone companies and paid mostly with WorldCom stock, including its $37-billion buyout of MCI Communications Corp in 1998. The company's big break came in 1996 when it purchased MFS Communications and its Internet subsidiary UUNet Technology, which coincided with the Internet's exponential growth.

Asset sales & divestitures, Telecommunications, Telecommunications industry, Sprint Corp.

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MCI, Sprint in merger talks to create long-distance giant

Article Abstract:

Jackson, MS-based MCI WorldCom Inc is engaged in negotiations to merge with rival Sprint Corp of Kansas City, MO, a deal that would create a major competitor to AT&T Corp. Merging MCI WorldCom, the No. 2 long- distance carrier in the US, and Sprint, the third-largest long-distance phone company, would create a combined entity worth a potential C$221 billion. The deal would also allow Sprint and MCI WorldCom to own almost a third of the long-distance market in the US, second only to AT&T>

Wired Telecommunications Carriers, Long Distance Telephone Svc, MCI Inc.

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