Word: worldcom
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...spoken for, but many potential obstacles remain before WorldCom consummates the merger. More
...have accepted WorldCom's $37 billion buyout bid on Monday, but both companies have a long way to go before they are actually merged, reports Money Daily...
...stake to provide the swing vote in a showdown. He seems more disposed to side with Lee than with Ebbers, who shattered BT's dream of acquiring all of MCI. Lee and Roberts, both engineers, have a common bond, while the defiantly nontechnical Ebbers is a wildcatter who built WorldCom into the fourth largest U.S. long-distance company through a relentless series of deals. "Bernie Ebbers wasn't our type," sniffs an MCI insider who was glad...
...Ebbers, a former basketball coach, is a gamer who relishes a battle. And he's playing with WorldCom's high-powered stock. Ebbers can easily issue the 820 million new shares needed to acquire MCI in a tax-free deal. Both combinations are sure to raise red flags at the Justice Department and the fcc. The GTE takeover in particular would raise "serious competitive questions," warns FCC chairman Reed Hundt...
...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...