Updated version: MCI WorldCom CEO does not favor stock split
Thursday May 20, 12:47 pm Eastern Time
CLINTON, Miss, May 20 (Reuters) - MCI WorldCom Inc.
(Nasdaq:WCOM - news) Chief Executive Bernie Ebbers said
Thursday the company's board may discuss the possibility of a
stock split following its annual shareholders' meeting, but he said
he did not favor such a move at this time.
When asked by a shareholder during the annual meeting whether the company would split its stock, Ebbers said: ''That is probably one of the issues that will come up in the board's discussion following this meeting, but my personal feeling is that I would not want to see a stock split at this point in time.''
Shares of MCI WorldCom, the No. 2 U.S. long-distance company, have increased about 100 percent over the past 12 months. The shares were down 12.5 cents, to $88.375, in midday trade Thursday on the Nasdaq stock market.
WorldCom Inc., before last year's purchase of MCI Communications Corp., had five stock splits since 1990. Before the deal MCI had three splits since 1982.
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