BNET Industries
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- 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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merger and worldcom inc. - All News and Analysis
Lessons from the Mega-Mergers
BNET
- 2007-09-07
These high-profile corporate mergers are excellent case studies for anyone considering a potential acquisition. Hewlett-Packard and Compaq Date:...
European court gives late ruling on a moot merger of WorldCom, Sprint.
- 2004-09-29
By David Hayes, The Kansas City Star, Mo. Knight Ridder/Tribune Business News By David Hayes, The Kansas City Star, Mo. Knight Ridder/Tribune Business News
Sprint Withdraws Contention to WorldCom Merger-Related Lawsuit Settlements.
- 2003-12-03
By Dan Margolies, The Kansas City Star, Mo. Knight Ridder/Tribune Business News By Dan Margolies, The Kansas City Star, Mo. Knight Ridder/Tribune Business News
After WorldCom : How Much Consolidation Can U.S. Telecom Regulators Permit?
BNET
- 2003-05-15
The article explains how much industry consolidation can telecom regulators permit without significantly impairing competition? It recognize that regulators will judge any merger based upon the relevant facts but, in general, it suspect the answer may prove to be "more than you might think," -- especially if the "failing firm"...
After WorldCom: How Much Consolidation Can U.S. Telecom Regulators Permit?
BNET
- 2003-05-15
WorldCom's recent bankruptcy has likely set the stage for a new round of telecom industry mergers that will test the long-standing competition policies of U.S. regulators. As Federal Communications Commission FCC told Congress that It is difficult to imagine the industry stabilizing without some modest and prudent restructuring. With new...
After WorldCom: How Much Consolidation Can U.S. Telecom Regulators Permit?
BNET
- 2003-05-15
WorldCom's recent bankruptcy has likely set the stage for a new round of telecom industry mergers that will test the long-standing competition policies of U.S. regulators.
Brazil: WorldCom resists merger and acquisition trend.
- 2001-08-09
Brazil, Aug 6, 2001 Brazil, Aug 6, 2001
From the Desk of… Dick Wiley
- 2001-04-20
Market Conditions Ripe For Even Bigger Mergers Opinion By Dick Wiley, rwiley@wrf.com Three interrelated trends are sweeping through the communications field, not only in the United Sates, but around the world as well. I refer to the three "Cs" of communications: competition, convergence and consolidation....
Sprint amends controversial stock-option vesting plan.
- 2001-04-02
The board of directors of Sprint Corp. formally amended a stock-option plan allowing accelerated vesting of stock options upon shareholder approval of a merger, according to a recent Securities and Exchange Commission filing. Lawyers represen The board of...
WorldCom revises Intermedia merger terms.
- 2001-02-19
CLINTON, Miss.--WorldCom Inc., the nation's largest wireless reseller, revised the terms of its merger with Intermedia Communications Inc. to settle a lawsuit filed by the minority shareholders of Digex Inc., which is majority-owned by Intermedia. CLINTON, Miss.--WorldCom Inc., the nation's largest wireless ...
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