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To: Teddy who wrote (2210)	3/9/1998 5:47:00 AM
From: Teddy	Read Replies (1) \| Respond to of 11568

Dow Jones Newswires -- March 9, 1998 Worldcom, MCI To Acquire Stake In Grupo Telefonica WASHINGTON (AP)--Long-distance companies WorldCom Inc. and MCI Communications Corp. are allying themselves with Spain's largest phone company in an arrangement that replaces British Telecommunications. WorldCom and MCI together will take a non-controlling financial stake in Grupo Telefonica, a $15.5 billion company that also has ownership in telecommunications companies in Chile, Argentina, Peru and Puerto Rico, according to sources close to the companies who spoke Sunday on condition of anonymity. Telefonica Chairman Juan Villalonga, WorldCom president Bernard Ebbers and MCI Chairman Bert Roberts were to announce details of the partnership at a news conference today in Washington. The deal with Telefonica marks WorldCom's first international partnership, the sources said.