Cable & Wireless settled its legal spat today with MCI WorldCom.
MCI WorldCom agreed to pay Cable & Wireless $200 million in order to settle the law suit that Cable & Wireless filed last April. Cable & Wireless had accused MCI WorldCom of not providing important information regarding MCI's Internet business when Cable & Wireless acquired MCI's Internet business in 1998 for $1.75 billion.
Cable & Wireless had all along said that it intended to take the suit as far as it needed to, implying a court trial if necessary. But executives claimed they were glad the lawsuit was over and they were pleased with the settlement.
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C&W sues MCI WorldComIDG News Service, 04/01/99.
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