Leucadia sells shares of MCI

Leucadia National this week sold all of its MCI stock.

The conglomerate filed an 8-K with the Securities and Exchange Commission (SEC) stating that it sold its 5% stake in the carrier. According to the document the sale brought in a pre-tax profit of about $20 million for Leucadia.

In the document, the investment company goes on to say that its sale  “should not be interpreted to mean that (Leucadia) is no longer interested in acquiring control of MCI, but no assurance can be given that (it) will acquire control of MCI.”

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Leucadia National this week sold all of its MCI stock.

The conglomerate filed an 8-K with the Securities and Exchange Commission (SEC) stating that it sold its 5% stake in the carrier. According to the document the sale brought in a pre-tax profit of about $20 million for Leucadia.

In the document, the investment company goes on to say that its sale  “should not be interpreted to mean that (Leucadia) is no longer interested in acquiring control of MCI, but no assurance can be given that (it) will acquire control of MCI.”

Leucadia made headlines in July when it filed for permission with the SEC to buy at least 50% of MCI’s shares. Since then there hasn’t been much public action on either side regarding a potential deal.

But last week it was revealed that MCI hired three investment bankers to help the carrier sort through potential offers. It’s been reported the carrier is looking to fetch at least $6 billion. Analysts speculated last week that perhaps talks between Leucadia and MCI broke down because the conglomerate was not offering enough money to acquire the carrier.