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Technology Stocks : WCOM
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To: Paul Berggren who started this subject6/25/2002 11:51:01 AM
From: JOHN A.   of 11568
 
WCOM pockets assets of about 346 mm
DJ WorldCom/Star Communications -2: Deal Worth $108.8 Million
25 Jun 11:30
WASHINGTON (Dow Jones)--WorldCom Inc. (WCOM) received antitrust clearance from the Federal Trade Commission for its proposed acquisition of assets of PT-1 Communications Inc. from Star Telecommunications Inc. (STRXQ).
The agreement provides for PT-1 Communications to sell most of its assets to MCI WorldCom Network, a unit of WorldCom, for $108.8 million. MCI WorldCom Network won't pay any cash under the deal, which is a settlement of a receivable, a WorldCom spokesman previously told Dow Jones Newswires.Bankruptcy Court in Wilmington, Del., since March 13, 2001. Star Telecom's bankruptcy petition listed assets of $630 million and liabilities of $284.6
million.
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