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

To: Anthony Wong who wrote (2604)	6/14/1998 4:48:00 PM
From: Uncle Mikey	Read Replies (1) \| Respond to of 11568

To buy MCIC or WCOM? I was trying to look back and find the share ratio (how many MCICs will equal one WCOM) when the deal goes through. I'm trying to figure out which is the better deal right now, buying MCIC or WCOM, with an intention to hold on to WCOM longterm. Ideas? Mike

To: Anthony Wong who wrote (2604)	6/15/1998 6:12:00 AM
From: ANANT	Read Replies (2) \| Respond to of 11568

AW and all : MCI Meets With EU Regulators To Plan Sale of Internet Assets By JARED SANDBERG, JENNIFER SCHENKER and JULIE WOLF interactive.wsj.com Excerpts: ( WSJ June 15,98 ) The two telecommunications companies are racing against the clock. Advisers of the European Union, taking a hard line against the combination on antitrust grounds, have advised EU countries to reject the proposed deal. However, if the companies and commission advisers can come to an understanding by Wednesday, that could be used to justify a new, positive recommendation before a meeting Friday of member nations' competition chiefs, people familiar with the talks said. ---------------------------------------------------- MCI executives met with U.S. Justice Department officials late last week and offered to sell more of the company's Internet assets. But as of Friday they hadn't submitted the same offer in writing to EU officials. Breaking Through the Logjam Clearly, EU officials want a proposal soon. "We make a decision based on what is submitted, not on what might be," said an EU commission official, referring to the negative opinion that was sent to EU members last week. Friday's talks, however, could change things significantly for MCI-WorldCom; the companies now are determined to reach a definitive agreement to sell MCI's business. ----------------------------------------------------- To get the deal done, MCI now is prepared to sell its entire Internet operation, accounting for $320 million in annual revenue, executives familiar with the situation said. And in addition to the actual network and systems, MCI is now prepared to sell its customer base of 3,000 corporate accounts as well as several hundred thousand consumer Internet accounts. Under the original C&W agreement, MCI was going to sell only its network, not the customer accounts. Under the plan discussed Friday, MCI wouldn't have to name a specific buyer, only that it would find one within a month. Executives familiar with MCI's plans said Cable & Wireless is still in the running to buy the rest of the assets, but it could be trumped by one of several other contenders now said to be aggressively pursuing MCI's business. Those possible buyers include British Telecommunications PLC, Williams Cos. and AT&T Corp., the executives said. Others said to be interested include Qwest Communications International Inc., IXC Communications Inc. PSINet Inc., which last week expressed interest in purchasing MCI's assets, also could enter the fray. ----------------------------------------------- The judge in the case ruled last week that he wouldn't grant C&W's motion for a temporary restraining order that sought to block MCI from holding discussions with other bidders. The judge said there wasn't any evidence that MCI had taken such actions. -------------------------------------------- While the EU and U.S. are working closely on the case, EU regulators have a tighter deadline of July 15 to make a formal decision. Under EU procedures, the commission has to get a nonbinding opinion from its national competition officials on Friday. But if the commission and the companies look close to an agreement, Friday's meeting of the national officials could be postponed. Alternatively, the commission could schedule a second session later this month or in early July to look at a revised merger. ------------------------------------- Kind rgds ANANT