Word: mci
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...serious business. In London last week, scores of telecoms companies turned their attention to the sizable Iraqi market as Baghdad's National Communications and Media Commission (NCMC) opened consultations on the award, later this year, of as many as five mobile-network licenses. Potential bidders include Bechtel, Lucent Technologies, MCI, Nokia, Nortel and Persia Telecom. In a country where just 3% of the 26 million population has a landline, mobile links are vital. Market penetration is about 10% and rising. Three licenses awarded in 2003 - by the now-defunct Coalition Provisional Authority - expire on Dec. 22. Transparency is the watchword...
...giant paid a painful price for its successful maneuver. A Houston jury decided that Texaco had sabotaged Pennzoil's contract with Getty, and fined Texaco an awesome $10.5 billion. It was the largest sum ever awarded in a corporate court fight, dwarfing the $1.8 billion won by MCI in a 1980 suit against...
Washington-based MCI Communications took on giant American Telephone and Telegraph in a courtroom more than a decade ago, charging it with monopoly practices that prevented MCI from competing equally in the domestic long-distance phone market. MCI won that action, along with damages of $600 million that were trebled by federal law to $1.8 billion. But AT&T appealed and won a dismissal of the award. Last week a new trial involving the old adversaries began. Purpose: to set once again the amount of damages AT&T should...
...MCI now believes that it was hurt even more by Ma Bell. The company today wants $5.8 billion, which would be tripled to a jangling $17.4 billion. Asked at AT&T's annual meeting last week if he felt MCI would get anywhere near the damages it wants, Chairman Charles Brown said firmly, "No." An AT&T lawyer described MCI's demands as "monstrous...
Much has changed since the companies first squared off. AT&T has been broken up into eight smaller pieces in the largest corporate split-up in U.S. history. MCI has grown rapidly. Its sales have spurted from $7 million in the mid-'70s to $2 billion, and it is AT&T's largest long-distance competitor...