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To: Bron-y-aur who wrote (5451)	7/7/1998 11:30:00 PM
From: pat mudge	Respond to of 18016

I didn't see this on my normal news source. From Inter@ctive Week: << Inter@ctive Week July 7, 1998 WorldCom's MCI Takeover Set To Clear Main Hurdle Wednesday By Louis Trager 3:30 PM EDT The European Commission is expected to approve on Wednesday the $37 billion merger of MCI Communications Corp. and WorldCom Inc. on the condition that MCI give up its entire Internet business. "We are confident that the commission will vote 'yes,' " an official of the European regulatory body said on condition of anonymity. "The real issue, however, is that the conditions are properly implemented." The commission is relying on the U.S. Department of Justice to oversee compliance, the official said, in the next stage of a case that has set "a remarkable example for trans-Atlantic cooperation in the field of antitrust." Details of the companies' concessions, which include an agreement to hold off competing to regain customers of the Internet business to be divested, are expected to be spelled out Wednesday. Cable & Wireless PLC said it has discussed buying the assets to be spun off, but other suitors have not been disclosed. Cable & Wireless agreed recently to pay $625 million for MCI's Internet backbone, wholesale customers and support services for Internet service providers. But the commission rejected the divestiture as insufficient to create a stand-alone business, relieving concerns that the combined MCI WorldCom would dominate the Net. The deal still requires sign-offs from the DOJ and the Federal Communications Commission. But analysts expect those approvals to be routine, especially after tough haggling with European officials. The companies expect the merger to close at summer's end. MCI can be reached at www.mci.com WorldCom can be reached at www.wcom.com Cable & Wireless can be reached at www.cwplc.com >>>>