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Technology Stocks : WCOM

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To: SteveG who wrote (2499)	5/28/1998 11:18:00 AM
From: SteveG	Read Replies (2) of 11568

<A> MCI-C&W - Conf Call -2: Deal Not One MCI Wanted To Do NEW YORK (Dow Jones)--MCI Communications (MCIC) said it does not anticipate difficulty winning regulatory or antitrust approval for the sale of its Internet backbone service business to Cable & Wireless (CWP). The $625 million deal, reported earlier, is an effort by MCI to ease the concerns of European regulators, who have raised objections to MCI's $37 billion merger with WorldCom Inc. (WCOM). MCI is second only to WorldCom's UUNet Technologies division in offering high-speed Internet connections. In a conference call, MCIC said the Cable & Wireless deal was not one it wanted to make, given the strong growth of the business, but added that the move is a decisive step that should clear the way for the WorldCom merger. In the short term, MCI said, operating income lost from the transaction should be offset by savings from interest expenses. The company said its deal with Cable & Wireless "in no way" changes the terms of its deal with WorldCom.

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