Justice Approves Worldcom Mci
AFTER NINE MONTHS OF WRANGLING, the Justice Dept. O.K.'d the $37 billion WorldCom-MCI Communications merger on July 15--a week after the European Commission approved it. Both signed off after MCI promised to sell its Internet business to Britain's Cable & Wireless for $1.75 billion. Authorities feared MCI-WorldCom would dominate the Net-backbone market. Now, nods are expected from the Federal Communications Commission and the states by late summer. After the merger, WorldCom will catapult from No.4 to No.2 in the long-distance market.
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