Word: mci
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...they ever. Just ask MCI. In a bid that would mark the biggest corporate buyout in U.S. history, the country boy from Canada by way of Mississippi last week offered $30 billion in WorldCom stock for MCI, the country's second largest long-distance carrier and a company four times the size of WorldCom. The bid demolished British Telecommunication's $18.7 billion offer for MCI just as the two phone giants were preparing to seal their transatlantic deal. It also shattered BT's plan to make the MCI merger the focus of its global strategy, a consequence that didn...
Weill naturally downplays any talk of culture wars or conflicts among his managers. And he says the risks inherent in Salomon's volatile trading operations (Salomon's traders reportedly blew $100 million recently betting the wrong way on the MCI-British Telecom merger) will look like "a little bit of a pimple" alongside the $30 billion in revenues that Travelers will have after the merger. That pimple could look even smaller if, as expected, Weill makes more acquisitions. Next up could be a commercial bank, which would add lending power to the Travelers portfolio. "I have never in my life...
Just when the British Telecom merger with MCI seemed like a done deal, up steps an American firm to throw a spanner in the 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...
Last week, the Harvard Student Telephone Office (HSTO) announced that it had renegotiated their phone rates with MCI, the University's provider. The HSTO said that the new plan would save $350,000 a year. We hope the savings will show up in as many pocketbooks as possible...
Harvard's long distance service differs from MIT's in that Harvard handles its own billing and charges long distance users a fee for basics such as touch-tone dialing, installation fees, taxes, line repair, caller ID and caller block. This charge is additional to the regular MCI rates, Grenier said...