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

To: C. Allen who wrote (2798)	7/7/1998 11:17:00 AM
From: Teddy	Read Replies (2) \| Respond to of 11568

I guess no one cares: the stock is just sitting there unchanged. The only way this stock will move is if WorldCom gets involved in the Internet <VBG>

To: C. Allen who wrote (2798)	7/7/1998 1:10:00 PM
From: Anthony Wong	Read Replies (2) \| Respond to of 11568

WorldCcom Inc. Reiterated 'Buy' at Prudential Bloomberg News July 7, 1998, 8:55 a.m. ET Princeton, New Jersey, July 7 (Bloomberg Data) -- WorldCom Inc. (WCOM US) was reiterated ''buy'' by analyst Guy W. Woodlief at Prudential Securities. The 12-month target price is $53.00 per share. -- Andrew Bekoff in Princeton, New Jersey, (609)279-3652

To: C. Allen who wrote (2798)	7/7/1998 1:12:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 11568

WorldCom to Get Formal EU Approval for MCI Purchase Tomorrow Bloomberg News July 7, 1998, 11:35 a.m. ET Brussels, July 7 (Bloomberg) -- WorldCom Inc.'s $45.8 billion purchase of MCI Communications Corp. will get formal approval from European Union regulators tomorrow, clearing a major antitrust hurdle to an acquisition that will create the second-largest U.S. phone company. Tomorrow's decision by the 20-member European Commission, the EU's executive agency, will cement the tentative approval given when MCI offered last month to sell its entire Internet business, which analysts estimate could fetch more than $1 billion. The companies also guaranteed they won't try to win back former MCI Internet customers. To comply with the EU ruling, the companies need to choose a buyer for MCI's Internet business and complete the sale within a certain period of time. The acquisition also still needs approval from U.S. regulators, who are looking at the companies' combined 25 percent share of the $70 billion U.S. long-distance market. A final ruling isn't expected until the fall. The combined company, to be called MCI WorldCom, will have combined 1998 revenue of about $32 billion and will be the strongest competitor to No. 1 U.S. long-distance company AT&T Corp. MCI is the second-biggest U.S. long-distance company, while WorldCom is No. 4. The commission's green light will end a seven-month review centered on concerns WorldCom would dominate global Internet traffic. In a bid to stem regulatory opposition, MCI agreed in May to sell its wholesale Internet business to Cable & Wireless Plc, the No. 2 U.K.-based phone company, for $625 million. When that failed, MCI offered to sell its entire Internet business. Naming a buyer for MCI's Internet business wasn't a condition for EU approval of the offer. Cable & Wireless Chief Executive Richard Brown said two weeks ago the company was still in talks with MCI, and was interested in buying all the Internet assets MCI must shed to get regulatory approval. Other possible bidders for the business include IXC Communications Inc., AT&T and Williams Cos., analysts said. The sale will have to be completed within a period of time determined by the commission. Commission and company officials have declined to comment on the deadline for the sale, or the period of time MCI has agreed not to compete for its former Internet customers. EU Competition Commissioner Karel Van Miert reviewed the acquisition in tandem with U.S. regulators. The U.S. Justice Department said June 30 it agreed with the EU position on the companies' Internet dominance. It won't approve the acquisition until it sees a signed sale contract, according to people familiar with the investigation. A decision from the U.S. Justice Department is expected in coming weeks. The Federal Communications Commission must then rule on whether the combination is in the public interest. --Alison Jahncke in the Brussels bureau (32 2) 285 4300/js