Cable & Wireless Plc has, as expected, agreed to acquire MCI Corp’s US internet business, and will pay $1.75bn in cash. Following the announcement, the US Department of Justice gave its approval for Worldcom Inc’s $49bn purchase of MCI Communications Corp. The deal turns C&W into the world’s second largest internet service provider, after Worldcom/MCI itself, and C&W says it expects to gain $650m in revenues in the year to March 30 2000 from the purchase. For the full story, see Network Briefing.
