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On November 4, 1997, WorldCom and MCI Communications announced a $37 billion merger to form MCI WorldCom, making it the largest corporate merger in U.S. history. On September 15, 1998, the merger was consummated, forming MCI WorldCom. MCI divested itself of its "internetMCI" business to gain approval from the United States Department of Justice.
— The Department of Justice today announced that WorldCom Inc.'s $44 billion purchase of MCI Communications Corp. may proceed after MCI divests its Internet business. MCI agreed to sell internetMCI to Cable & Wireless plc for an estimated $1.75 billion, making it the largest divestiture of a company in merger history.
Jun 12, 1998 · US District Court Judge Thomas Penfield Jackson rejected a request from Cable & Wireless Plc, which agreed last month to buy MCI's wholesale Internet business for US$625 million, preventing...
MCI was founded as Microwave Communications, Inc. on October 3, 1963, with John D. Goeken being named the company's first president. The initial business plan was for the company to build a series of microwave radio relay stations between Chicago, Illinois, and St. Louis, Missouri.
Jul 8, 1998 · THE UK’s Cable & Wireless is the front runner in the race to snap up the leftovers of MCI Corporation’s Internet business after the European Commission gave conditional approval to the US telecom giant’s 34-billion-ecu merger with WorldCom Inc.
May 28, 1998 · C&W's purchase of MCI's Internet backbone appears to be doing little to placate those who have voiced concern over MCI's proposed merger with WorldCom.
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Jun 19, 1998 · The antitrust experts still want MCI to sell its Internet businesses and clarify how it would transfer customers to a new buyer. Regulators have until 15 July to formally approve the deal.
