Filings with the US Federal Communications Commission show that British Telecommunications Plc has received special investment protection under its agreement with MCI Communications Corp: it gets only three seats on the company’s 15-member board, but MCI would need its approval before it could make any big acquisitions, sell significant assets, or engage in share transactions that would dilute British Telecom’s 20%, the London Evening Standard reported; it also agreed not to seek a buyer for seven years, while British Telecom will not up its stake for 10 years.
