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June 1, 1994


By CBR Staff Writer

The Justice Department and British Telecommunications Plc are in the final stages of negotiating the agreement that will enable the UK telephone company proceed with its plan to acquire a 20% stake in MCI Communications Corp, the Wall Street Journal reported, apparently refuting a report in the Washington Post that Justice was seeking new limitations on the deal; according to the Journal, the Justice Department could file a consent decree as early as this week, people familiar with the process said, virtually clearing the way for the long-awaited application to buy the $4,300m stake in MCI; they didn’t say whether the consent decree would require any changes in the MCI-British Telecom agreement; the Federal Communications Commission would have to approve the deal, but its that is expected to be a formality; BT said the company isn’t aware of any problems or any change being sought by the Department – As far as we’re aware, we’re just going to be given the go-ahead to buy a stake in MCI, the company declared.

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