mci
RSS mciYahoo ties up AT&T deal
News The move comes after the Internet company failed to launch a similar service with MCI before it was acquired by Worldcom and forced to sell off its own Internet division. Yahoo has signed up AT&T as a partner for an Internet service called Yahoo... [24 Sep 1998]
In brief: BT gets $7bn cheque from WorldCom
News BT has received $6.94bn from WorldCom in payment for its 20 per cent stake in MCI. The payment comes after WorldCom and MCI sealed their $37bn merger earlier this week, and gives BT the freedom to examine other alliances in the US. [17 Sep 1998]
Yahoo and MCI untie the knot
News Yahoo and MCI have agreed to end their jointly-branded online service after just six months. Its future was thrown into doubt after MCI agreed in July to sell off all its Internet business to Cable & Wireless (C&W), in order to gain regulatory... [15 Sep 1998]
Derailed train upstages Net debut of the Clinton report
News Internet services from MCI and Sprint were cut off, preventing most of Southeast USA from accessing Kenneth Starr's report. Web servers across the US came to a standstill on Friday afternoon, but not because of the publication of lewd charges... [14 Sep 1998]
Transatlantic cable to speed data transfer
News A consortium of more than fifty telecoms companies - including AT&T, BT, Cable and Wireless, Deutsche Telekom, France Telecom and MCI - is to lay a transatlantic telephone and data cable. Expected to go live by the end of 2000, the $1.5bn project... [03 Sep 1998]
BT close to Korean investment
News The sale of BT's 20 per cent stake in MCI to WorldCom looks set to give the telco a $7bn war chest for further purchases, and the company's international alliance with AT&T could hasten acquisitions in the Asia-Pacific region. [01 Sep 1998]
In brief: BT buys MCI out of Concert
News BT is to buy MCI's 24.9 per cent share in Concert for $1bn. The joint venture, which provides voice and data services to about 3,500 international companies, was thrown into doubt after WorldCom outbid BT for control of MCI. [14 Aug 1998]
In brief: BT blocks sale of Cellnet shares
News The telco is due to receive a £4bn cash payment for its 20 per cent stake in MCI. BT has blocked an attempt by Securicor to sell its share in Cellnet. The company owns 40 per cent of the mobile operator, with BT owning the other 60 per cent. [03 Aug 1998]
Bell Atlantic and GTE tie the knot
News The combined enterprise will have the financial, operational and technological resources to compete effectively against the strategies of AT&T/TCI, SBC/Ameritech, WorldCom/MCI and others," he said. The move has been seen by some as a climb-down for... [29 Jul 1998]
In brief: BT continues Asian invasion
News Following BT's sale of its 20 per cent stake in MCI to WorldCom - and given that its ground-breaking alliance with AT&T should not prove too costly - the UK telco still has a war chest of over $5bn to pursue acquisitions and network construction... [28 Jul 1998]
BT and AT&T form £6.25bn global alliance
News Last year BT attempted to get a firmer grip on the international telecoms market with the acquisition of US long-distance carrier MCI. BT's long search for an international partner may be over, following a multi-billion dollar deal with AT&T. [27 Jul 1998]
MCI sells US Net business to C&W
News MCI has sold its entire US Internet business to Cable & Wireless (C&W) for $1.75bn (£1.1bn), giving the UK-based telco 250,000 consumer customers and 60,000 business customers. The deal was announced on Wednesday evening, shortly after the US... [16 Jul 1998]
BT shareholders to vote on share buy-back
News With WorldCom's purchase of MCI nearing completion, BT will soon be sitting on $7bn (£4.4bn) less tax - its payment for selling its 20 per cent stake in MCI. However, Steve Wallage, a Dataquest analyst, said: "A share buyback wouldn't make that... [14 Jul 1998]
In brief: GTE backs EC approval of Worldcom/MCI merger
News GTE has said it fully supports the EC decision to give conditional approval to the MCI/WorldCom merger. However, he added that GTE will pursue its lawsuit against the merger, to prevent WorldCom/MCI from recapturing the divested Internet customers. [10 Jul 1998]
EC gives final approval to MCI/WorldCom merger
News As expected, the EC yesterday approved the $37bn (£22.6bn) merger of WorldCom and MCI. As a result of an EC investigation - which was encouraged by competitors such as GTE and Sprint - the companies have agreed to divest all MCI's Internet assets. [09 Jul 1998]
