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Strategies & Market Trends : Cable and Wireless (CWP)
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To: Ken Sammut who wrote (59)7/15/1998 5:00:00 PM
From: Sawtooth  Read Replies (1) of 162
 
CWP to buy MCI wholesale and retail internet op's for 1.75b. I read an article earlier this week that valued those op's in the $3.5 - 4b range. Did CWP get a good deal here?

July 15: WASHINGTON (Reuters) - The U.S. Justice Department today approved WorldCom's proposed $37-billion purchase of MCI Communications on condition MCI sells its Internet assets. The Justice Department said MCI will sell its wholesale and retail Internet businesses to the British firm Cable & Wireless for $1.75 billion, satisfying U.S. and European regulators' concerns that the merging companies would dominate the Internet. The department's approval removes one of the last hurdles to the deal, which won approval from European regulators last week. The U.S. Federal Communications Commission expects to complete its review in August, as the nation's fourth largest long distance carrier swallows the second largest.
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