In brief: BT buys MCI out of Concert

By Lisa Burroughes, 14 August 1998 14:04

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. Concert will now become a part of BT's venture with AT&T, but the UK telco said it is still looking for other investors. The buyout will take place after the MCI/WorldCom merger has been completed at the end of the summer.

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