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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Gary Korn who wrote (22532)	11/11/1997 12:22:00 AM
From: Jeff Jordan	Respond to of 61433

Update: WorldCom Gets MCI for $37 Billion out of the West, upstart WorldCom has ridden up and swept MCI off from its marriage to British Telecom. Sweetening its offer to $37 billion, or $51 per share, WorldCom will also pay BT (in addition to its 20 percent stake of MCI, worth $7 billion) a breakup fee of $465 million. GTE, though declining to comment, is widely seen as accepting its rebuff (it had counteroffered $45 per share). The new company, MCI WorldCom, will put MCI Chair Bert Roberts in as chair and Bernard Ebbers, CEO of WorldCom, as CEO. Finally, WorldCom shareholders will retain 55 percent of the new company and MCI shareholders will get 45 percent. MSNBC covers the stock prices of all the contenders and reports expectations that the new company will have more than $30 billion in annual revenue next year. After reporting strong earnings for the latest quarter, WorldCom is certainly feeling its oats. The Wall Street Journal has the original story (subscription required). Reuters