BNET Industries
- Private
- US
Dow Jones Description
Located in Clinton, MS. WorldCom is one of the world's largest telecommunications companies with 20 million consumer customers, thousands of corporate clients and 80,000 employees. MCI refers to its long distance service. It also owns UUNet, controlling the wires that Internet service providers use as superhighways to carry Internet traffic between cities and across continents. Even before the recent accounting disclosures, by 2001, WorldCom was already going through financial turmoil due to large debt and declining rates and revenue. Growth in the telecommunications industry was slowing and the company had too much network capacity. The company was deep in debt from an ambitious buying spree. There were also the controversial $408 million loans to CEO Bernie Ebbers to cover his margin calls on loans secured by company stock.
Peer Companies
NAICS Code Wired Telecommunications Carriers: 517110
News & Analysis
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embratel and worldcom inc. - All News and Analysis
Telmex to Buy WorldCom's Embratel Stake In Brazil
- 2004-03-16
Telefonos de Mexico SA, Mexico's largest telephone company, agreed to buy WorldCom Inc.'s stake in Brazil's biggest long distance phone company for US$360 million.
Worldcom - Panorama: Regional
- 2002-09-01
WORLDCOM, empresa estadounidense de telecomunicaciones que se declaro en bancarrota, contrato a Goldman Sachs para vender su filial brasilena Embratel Participacoes y la filial mexicana Avantel.
WorldCom Inc. is trying to sell Mexican operator Avantel and Brazilian operator Embratel, following the U.S. telecom's financial crisis. (Company News).(Brief Article)
- 2002-08-01
WorldCom Inc. is trying to sell Mexican operator Avantel and Brazilian operator Embratel, following the U.S. telecom's financial crisis. Markets ... WorldCom Inc. is trying to sell Mexican operator Avantel and Brazilian operator Embratel, following the U.S. telecom's financial crisis. Markets have speculated that Spain's...
WorldCom may sell Embratel.
- 2002-04-29
Brazil, Apr 26, 2002 Brazil, Apr 26, 2002
Brazil: Embratel denies WorldCom's lack of interest.
- 2001-08-01
Brazil, Jul 30, 2001 Brazil, Jul 30, 2001
Brazil : WorldCom excludes Embratel from its balance.
- 2001-07-09
Brazil, Jul 6, 2001 Brazil, Jul 6, 2001
Brazil: WorldCom unbinding process knocks down Embratel" shares.
- 2000-11-03
The US WorldCom is to unbind its assets from the long distance carrier MCI, following the steps of its main competitor AT&T which is to splitinto four companies. The unbind of WorldCom knocked down the shares of the Brazilian Embratel, controlle The US WorldCom is...
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