Word: mci
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Dates: during 1990-1999
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...MCI'S COLLECT CALL FROM LONDON...
...Although MCI has thrived on its status as underdog to mammoth AT&T, that shoe may no longer fit. MCI shook up the telecommunications industry last week--and just about everyone else too--by acknowledging it was in talks to merge with giant British Telecom. The deal, expected to be announced over this past weekend, is likely to be worth about $22 billion...
...companies are not strangers. BT (1995 revenues: $22 billion) bought a 20% stake in MCI (1995 revenues: $15.3 billion) for $4.3 billion in 1994 and earlier this year said the two would combine their Internet networks...
...MCI-BT combo spells trouble for one company. "The merger doesn't bode well for AT&T," says Kevin Gooley, an analyst with Standard & Poor's. "It is going to make it much more difficult for them to compete internationally." Consumers could benefit because the merger will probably lower prices for international calls...
...seems to be losing market share and is in a costly battle to get it back. Last week it descended into a pure price war, announcing a new flat-rate plan: 15' a minute for any call, anytime, anywhere in the country. Competitors already offer such plans. MCI Telecommunications president Timothy Price jeers, "The routine is that MCI introduces a service and AT&T says it isn't necessary. Then a year later they come out with something similar." AT&T isn't the only phone company whose stock is under pressure (see chart). Share prices of the Baby Bells...