Word: bt
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Dates: during 1990-1999
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...works. WorldCom, the U.S. telecommunications upstart that bought CompuServe a couple of weeks ago and snapped up Brooks Fiber, a local telephone company Tuesday, decided Wednesday to have MCI for dessert. Money Daily reports that WorldCom will offer $30 billion in stock for the long-distance carrier, trumping BT's offer by about $12 billion. But it seems everyone was a winner as BT, MCI and WorldCom stock all soared on the London markets...
Despite the global pretensions, Concert's first gig will be the $100 billion local phone network in the U.S. Hello, Baby Bells. Competition calling. The combination of MCI's hell-bent-for-market-share moxie and BT's muscle--Concert will have a cash flow of $12 billion--could wreak havoc in local markets, and that could be good news for anyone with a dial tone...
...enter 25 local markets in January. Thanks to its national brand name and scrappy style, "MCI was ready to beat the crap out of the regional phone companies even before the British Telecom deal," says David Goodtree of Forrester Research, a Massachusetts consulting firm. With BT behind it, Goodtree observes, MCI could take a $10 billion bite out of the local phone market within three years. And with that as a base, MCI could expect to broaden its No. 2 share of the $65 billion U.S. long-distance market; that currently stands...
Merging the buccaneering MCI culture with tradition-bound BT could prove tricky. To preserve MCI's independent spirit, Roberts will serve as co-chairman with BT chief Iain Vallance and remain at MCI headquarters in Washington...
...throes of restructuring, and now has to deal with an archrival that just became a heavyweight. AT&T chairman Robert Allen didn't wait long to complain that the playing field is not level. AT&T, he asserted, faces barriers to providing full service in the United Kingdom, where BT controls more than 90% of the local phone connections. Allen urged regulators to make scrutiny of the merger "a global priority of the highest order." In the U.S., where BT will ask for a waiver of the 25% ceiling on foreign ownership of American communications companies, such scrutiny could take...