Worldcom Touts Plan To Mci Shareholders

Wed., Oct. 15, 1997

From Staff And Wire Reports

WorldCom Inc. on Tuesday kicked off an aggressive campaign to convince MCI shareholders to reject British Telecom’s proposed merger so WorldCom can instead buy MCI for $30 billion.

WorldCom sent 250,000 preliminary proxies to MCI shareholders, weaving in praise for its unsolicited offer from eight well-known Wall Street analysts who follow the industry.

“Don’t Just Take Our Word For It. Here’s What the Expert Financial Analysts Have Publicly Said,” WorldCom says in introducing quotes.

WorldCom argues that its bid, made Oct. 1, is worth about $9 billion more than what British Telecom is offering.

WorldCom also contends a combined WorldCom-MCI would have far more potential to grow in the United States, particularly in markets for local telephone customers.

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Worldcom Touts Plan To Mci Shareholders

Jesse Tinsley

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