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To: MGV who wrote (3246)	8/16/1998 2:12:00 PM
From: Frank A. Coluccio	Respond to of 11568

BT to buy out MCI's stake in Concert By Nancy Weil IDG News Service, 8/13/98 British Telecommunications will pay $1 billion for MCI Communications Corp.'s 24.9% equity stake in Concert Communications Services. MCI announced the agreement yesterday, saying that the deal will be finalized after MCI merges with WorldCom, Inc. within the next few months. MCI will offer nonexclusive Concert services in the U.S. for up to five years after the merger, and contracts signed for Concert services with MCI before the end of a two-year period will be supported by MCI and Concert for three additional years. Concert also will honor MCI subdistributor and supply agreements for Concert services in the Americas. Those agreements will be honored on a nonexclusive, interim basis, MCI said. BT had previously announced plans to buy back MCI's stake in the joint Concert venture. The CEO of BT told the IDG News Service in February that he expected the buyout agreement to be worked out by midyear. BT had been trying to buy MCI when WorldCom swooped in last October with an offer that stunned industry observers.