Word: telecom
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Dates: during 1990-1999
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...careful to keep a line open to BT, which Ebbers had derided as a vanquished foe three weeks ago. Lee has talked over the years with BT chairman Sir Iain Vallance and MCI's Roberts about a possible combination of the three telecom giants. Lee stressed last week that he would welcome BT, which has held a 20% stake in MCI since 1993, in a combined GTE and MCI. "We share the global vision of our industry that brought MCI and British Telecom together," Lee noted in a "Dear Bert" letter to Roberts...
...such concerns scarcely dim the newfound luster of MCI as America's most wanted company. MCI stock, which traded for less than $28 a share last month, closed at $37.75 last week. "They [MCI] are in a really enviable position," says Jeffrey Kagan of Kagan Telecom Associates in Atlanta. "They can pick and choose their future and the company that will get them there." And the battle for that future--as well as for the rest of the telecom industry--may just be starting...
...BRITISH TELECOM The early loser, stuck with 20% of MCI, looks golden now that GTE bids big for MCI stock...
...Slim pickings indeed. But there were some feasts to be had: MCI, for example, seems to be whetting the appetite of every telecom company going. This week GTE joined the feeding frenzy, and made the highest cash bid in corporate history for the bloated ?phone firm. Just remember to leave a little on your plate when you?re done, guys...
...Analysts believe the bidding for MCI at this point is pretty much a two-way affair between GTE and WorldCom, which has offered $30 billion in stock, and say that British Telecom has moved to the sidelines...