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Microcap & Penny Stocks : CCEE Breaking Out
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To: Lee Kennedy who wrote (6822)10/10/1997 7:00:00 PM
From: Lee Kennedy   of 12454
 
WASHINGTON, Oct. 10 /PRNewswire/ -- MCI announced today the following
actions regarding the recent unsolicited proposal from WorldCom and in the
context of its strategic merger agreement with BT.
Consistent with its fiduciary responsibility, the Board has requested its
advisors to analyze further the details of WorldCom's proposal. The Board will
meet within the next week to address further the issues raised by the
proposal.
MCI has retained Lazard Freres, Lehman Brothers and Simpson Thacher &
Bartlett to advise it on the financial and legal issues raised by WorldCom's
proposal.
MCI is continuing the process of implementing its merger with BT, and MCI
and BT shareholder meetings are anticipated in December.
MCI, headquartered in Washington, DC, offers the industry's most
comprehensive portfolio of communications services. With 1996 revenues of
$18.5 billion, MCI ranks as one of the world's largest telecommunications
companies. MCI is also the world's third largest carrier of international
voice traffic and operates one of the world's most advanced Internet networks.
Since its founding in 1968, MCI has been a leader in bringing the benefits of
long distance competition to businesses and consumers and is now leading the
charge to open U.S. local calling markets to competition. MCI has agreed to
merge with BT to form Concert, the world's first global communications
company.
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