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Technology Stocks : Qwest Communications (Q) (formerly QWST) -- Ignore unavailable to you. Want to Upgrade?

To: Rashe W. Stephens III who wrote (1279)	5/19/1998 9:54:00 AM
From: MangoBoy	Read Replies (2) \| Respond to of 6846

[NYT: MCI may be trying to sell Internet unit] NEW YORK, May 19 (Reuters) - MCI Communications Corp (MCIC), the second largest long distance phone company in the U.S., is said to have quietly solicited bids for part of its fast-growing Internet business, The New York Times reported Tuesday. The paper, citing people close to the negotiations, said MCI was making the move to try to placate regulators who are weighing its $37 billion sale to WorldCom Inc (WCOM - news). MCI's domestic wholesale and trans-Atlantic Internet business could bring in close to $500 million, the paper said, adding the company is not considering selling its retail Internet unit. Those among the bidders, the people close to the negotiations said, include British Telecommunications Plc (quote from Yahoo!, a 20 percent stake holder in MCI. BT was outbid by WorldCom to buy MCI, but still stands to collect $7.3 billion in cash for its existing interest in the telecommunications company. Others invited to participate in the bidding were IXC Communications Inc (IIXC), Williams Cos Inc (WMB) and perhaps GTE Corp (GTE). GTE made a separate bid for MCI after WorldCom made its initial $30 billion bid, but dropped out when WorldCom upped the ante to $37 billion. Critics of the MCI/WorldCom merger say the new company would control over 70 percent of the Internet backbone, a figure both companies dispute, the Times wrote. The divestiture of these businesses would strengthen the case to allow WorldCom to keep Uunet Technologies Inc, the largest Internet backbone supplier. Uunet was acquired by WorldCom in 1996 when it bought MFS Communications Co. for $14 billion in 1996.