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To: Anthony Wong who wrote (3309)	9/14/1998 11:10:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 11568

WorldCom Moves To Complete Purchase Of MCI AFter FCC Approves Deal September 14, 1998 7:37 PM NEW YORK -(Dow Jones)- WorldCom Inc. late Monday announced it has completed its purchase of MCI Communications Corp., a deal originally valued at about $37 billion, after the Federal Communications Commission approved the combination. Each share of MCI (MCIC) will be exchanged for 1.2439 WorldCom shares. As part of the deal, British Telecommunications PLC will get about $7 billion for its 20% stake in MCI. Shares of WorldCom (WCOM) settled at $47.75 Monday. To get the deal done, MCI agreed to sell its entire Internet business to Britain's Cable & Wireless PLC. Comvined, Washington-based MCI, the nation's second-largest long-distance carrier after AT&T Corp., and Jackson, Miss.-based WorldCom will become MCI WorldCom. Some advertising experts have said the name is a marketing mistake. Even though WorldCom is buying MCI, the acquirer's name appears last, in recognition of MCI's much stronger brand name, according to representatives for both companies. Some corporate-identity experts had urged the companies to pick just one name world-wide, with MCI being the favorite. WorldCom has been described by some analysts as the AT&T of the Internet. In a short period of time, WorldCom has amassed ownership of an enormous chunk of the global computer network. Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved.