Saving WorldCom: An Impossible Dream?
How many times can you sell the same company? WorldCom (WCOM ) Vice-Chairman John W. Sidgmore joked at staff meetings not long ago that he had sold his former Internet backbone company UUNET Technologies twice -- first to MFS Communications and again to WorldCom when it bought MFS. So why not sell UUNET again, this time to help raise cash to pare WorldCom's crushing $30 billion in debt? "Heck, I'd be happy to make a third fortune," teased Sidgmore, according to former staffers who attended the meetings.
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