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MCI finds a buyer for wireless assets

Jul 02, 20032 mins

Latest financial news.

MCI finds a buyer for wireless assets, 07/01/03

Nextel is buying MCI’s fixed wireless service assets for $144 million. MCI, formerly WorldCom, filed a motion with the U.S. Bankruptcy court in the Southern District of New York on Monday that states that wireless service provider Nextel was the top bidder in an auction to sell off MCI’s wireless assets.

Hearing delayed in Oracle’s suit against PeopleSoft, 07/02/03

A court hearing in Oracle’s lawsuit against PeopleSoft has been postponed following the U.S. government’s request for more information this week regarding Oracle’s unsolicited bid to buy the Pleasanton, Calif., software company.

Court approves Global Crossing acquisition, 07/02/03

The court overseeing the reorganization of bankrupt telecommunications carrier Global Crossing Holdings Ltd. has approved the takeover of the company by Singapore Technologies Telemedia Pte. Ltd. (ST Telemedia), Global Crossing said in a statement Wednesday.

Corbis sues Amazon, others over image sales, 07/02/03

Retail portals must be aware of their responsibility for the vendors they host, according to photo library Corbis, which is suing over its dealings with a number of poster vendors accused by Corbis of copyright infringement.

Ex-Intel worker wins e-mail case on appeal, 07/01/03

In a closely watched case that’s testing the boundaries of law governing cyberspace, California’s highest court on Monday …

EU’s online sales tax takes effect, 07/01/03

A directive requiring companies outside of the EU to start paying value-added tax, or VAT, on sales of electronically delivered goods and services to European customers came into effect Tuesday.

Friskit to sue RealNetworks over patents, 07/01/03

San Francisco technology licensing company Friskit Tuesday announced that it filed suit against RealNetworks and Listen. …

Cogent buys time, 06/30/03

Cogent Communications officials say they have bought themselves more time to turn the company around through debt …

CEO Kruep leaves Procket, 06/27/03

Randall Kruep has resigned as CEO of Procket Networks following a power struggle with founder and chief scientist Tony Li …