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

To: ANANT who wrote (2628)	6/16/1998 7:30:00 PM
From: Vinnie	Read Replies (2) \| Respond to of 11568

This may sound like a dumb question....but if MCIC is divesting itself of large portions of it's internet business, then isn't WCOM getting less for the same amount of money ? or isn't the internet portion significant enough to make a dent in the overall package ? just thinking out loud....Vinnie

To: ANANT who wrote (2628)	6/17/1998 11:06:00 AM
From: Anthony Wong	Respond to of 11568

MCI 'Optimistic' About E.U. Approval Of WorldCom Merger June 17, 1998 10:51 AM BRUSSELS (Dow Jones)--MCI Communications Corp. (MCIC) of the U.S. said Wednesday that it is "optimistic" that the European Union Commission will approve its $37 billion merger with WorldCom Inc. (WCOM). MCI spokesman Frank Walter said company negotiations with E.U. and U.S. antitrust officials to facilitate approval of the merger have been "very productive." Walter made the remarks in a telephone conversation from Washington with Dow Jones Newswires. His remarks come despite continued opposition to the merger by the top competition official at the Commission, the E.U. executive. E.U. Competition Commissioner Karel Van Miert reportedly believes the merger would distort competition in the 15-member E.U. unless MCI agrees at least to a full divestiture of its Internet holdings. Van Miert has recommended that E.U. member-country antitrust officials oppose the merger when they vote on it Friday. Their non-binding opinion will go to the full 20-member Commission, which must make a decision by July 15. Van Miert has said that MCI's planned sale of some of its Internet assets to Britain's Cable & Wireless Communications PLC (CWZ) isn't sufficient to gain his endorsement of the merger. Though Walter said the negotiations involving MCI, WorldCom and regulators have been productive, he wouldn't comment further on the talks. "We remain optimistic that we will reach a solution acceptable to all parties," Walter said. He also said: "We continue to have very productive meetings." Commission officials also declined to comment on the talks. A Commission spokesman said Van Miert's recommendation on the merger to E.U. member-country antitrust officials could change if the companies offer more concessions. -By Grainne Hehir; +32-2-285-0136; ghehir@ap.org