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Technology Stocks : WCOM -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Carroll who wrote (2378)	4/16/1998 11:36:00 AM
From: taylorfife	Respond to of 11568

Target raised to $52 biz.yahoo.com

To: Kevin Carroll who wrote (2378)	4/16/1998 4:08:00 PM
From: Anthony Wong	Respond to of 11568

Details of the Morgan Stanley Dean Witter Conference: April 15, 1998 9:19 PM DOW JONES ONLINE NEWS WORLDCOM-MCI SEES CAPITAL SPENDING OF $5.5 BILLION IN 1999 By Shawn Young, Staff Reporter NEW YORK -(Dow Jones)- The merged WorldCom Inc. and MCI Communications Corp. expects capital spending of $5.5 billion in 1999, about $2 billion less than they would have spent separately, WorldCom officials said Wednesday. WorldCom (WCOM), based in Jackson, Miss., is expected to close its $37 billion merger with MCI, of Washington, D.C., this summer. The combined company will eliminate about $700 million that MCI would have spent in an effort to build local networks, said Scott Sullivan, WorldCom's chief financial officer. Sullivan spoke at a conference New York sponsored by Morgan Stanley Dean Witter. WorldCom, which offers local service to businesses in about 100 markets, is about two months behind in reaching an internal goal of making its back office capable of accommodating 100,000 new customers a month, said Bernard Ebbers, WorldCom's chief executive. That lag won't affect earnings because the company isn't yet adding that many customers each month, a WorldCom spokesman said. WorldCom hopes eventually to be a wholesaler of local service and add residential service to its arsenal, Ebbers said. He added that it will be relatively easy for the combined company to pick up residential customers along WorldCom's existing routes that serve business. AT&T Corp. (T) expects to pursue a similar strategy once it merges with Teleport Communications Group Inc. (TCGI), a company that offers local service to businesses. The combined WorldCom/MCI expects the explosive growth of the Internet to continue, Ebbers said, and WorldCom/MCI should be an Internet powerhouse. The company also expects continued international expansion, but WorldCom and MCI (MCIC) haven't reached agreement on exactly how they will divide up some of the global companies that are customers of MCI's global joint venture with British Telecommunications PLC (BTY), Ebbers said. It is likely that some of those customers will eventually be routed along networks owned by WorldCom/MCI, Ebbers said. Wireless is one area where the acquisitive WorldCom isn't currently looking at any significant deals, Ebbers said, adding that he doesn't know of one that would add to Worldcom's earnings. The company doesn't currently plan to build its own wireless network, Ebbers stressed. -Shawn Young; 201-938-5248 Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved.