MCI seeks buyer for its Net unit

Article Abstract:

MCI would possibly divest its Internet unit to make the purchase by WorldCom of MCI for $37 billion more acceptable to regulators in Europe and the US. The unit is expected to be priced for around $500 million. Should the company keep the Internet business, the merging companies would control over 40% of the Internet, a possibility likely to be contradicted by consumer groups and competitors. The merging companies would part with the Internet service provider business, which has annual revenue of less than $200 million.

Comment:

Would possibly divest Internet unit to make purchase by WorldCom of MCI for $37 bil more acceptable to regulators in Europe & US

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MCI sells unit for WorldCom deal

Article Abstract:

MCI is selling its wholesale Internet business to Britain, UK-based Cable & Wireless for $625 million to remove an obstacle to the company's $37-billion acquisition by WorldCom. The transaction between MCI and WorldCom has been dodged by antitrust concerns by both the European Commission and the US Justice Department. MCI's Internet unit ranks a far second to WorldCom's UUNet Technologies, the world's biggest Internet company that is preferred by the European Commission and the Justice Department to be divested.

Comment:

Sells its wholesale Internet bsns to Cable & Wireless for $625 mil to remove an obstacle to co's acquisition by WorldCom

Facilities & equipment

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Ameritech, bell canada to link

Article Abstract:

Ameritech Corp. will acquire a 20% stake in Bell Canada for $3.4 billion. Bell Canada, the largest among Canadian telecommunications company with $8.3 billion in revenues, serves 70% of the Canadian market partcularly Quebec and Ontario. The acquisition gives Bell Canada a partner with strong US operations, and will help increase its data and voice traffic on its 21.5%-owned long-distance carrier Teleglobe.

Canada, Acquisitions & mergers, Foreign operations, Telecommunications, Telecommunications industry, Bell Canada, Ameritech Corp.

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