February 22, 1996
Telecom Concerns to Buy Stakes in Newtone: British Telecommunications and Washington-based MCI Communications Corp. said they will own 25% and 15%, respectively, of Newtone Ltd., a venture seeking a license to provide international telecommunications in Israel. BT set up Newtone in March with Israeli partners to establish a Mideast bridgehead. It will compete with Israeli telephone company Bezeq.
November 14, 1996 |
Microsoft has joined with MCI and British Telecom to sell a package of Internet services and software to multinational companies, offering them one-stop shopping for linking far-flung computer networks. Some industry analysts said the alliance apparently will offer the first all-inclusive package of telecommunications and software services for international companies seeking to set up private Internets.
November 13, 1997 |
British Telecommunications said it will buy MCI Communications Corp.'s 24.9% stake in Concert Communications, the companies' international phone services venture. The companies have not agreed on a price. The move follows WorldCom Inc.'s plan to pay $7 billion in cash for British Telecom's 20% stake in Washington-based MCI as part of WorldCom's planned $37-billion acquisition of the No. 2 U.S. long-distance company.
November 11, 1997 |
British Telecommunications' decision to accept $6.9 billion in cash from WorldCom Inc. for its holding in MCI Communications Corp. leaves it with a fat nest egg and a significant hole in its global ambitions, analysts said. BT's decision came after WorldCom raised its offer for MCI by 23% to $51 a share, or $41.43 billion with debt, easily topping both BT's and GTE Corp.'s competing bids. It also agreed to pay BT $6.9 billion in cash for its 18% MCI stake.