$5bn WorldCom offer may be increased

NEWS US telecommunications firm IDT has said it may increase its $5bn bid for WorldCom's assets WorldCom has said it is "highly unlikely" it will sell its MCI long distance telephone division, the MFS local network and the Brooks Fibre unit for $5bn. The company paid more than $62bn for MCI and MFS. But IDT chief executive James Courter said WorldCom could have little choice but to consider the offer in the next few days. "WorldCom is imploding at the present time," he told Bloomberg Television. "Their good sales people are leaving. Their good CEOs are looking for different opportunities. Their customers are fleeing, so we think in a very short period of time they're going to have to recognise that they have a short window to do something for the bondholders and shareholders." For related news, see:
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