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Telecommunications

October 03, 1994|From Times Staff and Wire Reports

MCI Closes Sale of 20% Stake to British Telecom: MCI Communications Corp. said some of the money from the $4.3-billion sale may be put into ventures in local telephone service and wireless communications. MCI Chairman Bert Roberts said the company has a short time in which to make a decision because the federal government will begin auctioning licenses for the next generation of mobile phone service on Dec. 5.

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