Cable & Wireless plc is reportedly about to purchase the remainder of MCI Communications Corp.'s retail Internet business.
The two companies are close to inking a deal for Cable & Wireless to purchase the retail Internet assets of MCI for as much as $2 billion, according to the Dow Jones Newswire and other published reports.
Only last week European Union regulators gave the go-ahead for the merger of WorldCom and MCI on the condition that MCI sell its entire Internet business. This rumored sale, if true, would satisfy that requirement.
In May, MCI sold its Internet backbone business to Cable & Wireless for $625 million. This sale would hand over to Cable & Wireless all of MCI's contracts for residential Internet service.
RELATED LINKS
IDG News Service, 7/15/98
Cable & Wireless drops MCI suit
IDG News Service, 6/19/98
Cable & Wireless objects to MCI's behind-the-scenes negotiations
Network World Fusion, 6/11/98
Will WorldCom/MCI backbone hurt market?
The government is investigating, but users don't seem to mind. Network World, 4/6/98.
WorldCom/MCI: The carrier that ate the Internet?
Our online forum on the topic: What do you think?
WorldCom/MCI deal to go through ringer
A look at the issues behind the scenes. Network World 3/23/98.
Latest WorldCom financial and stock news
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