The deal: In what would be the biggest takeover in corporate history, US telecommunications group, WorldCom, is aiming to take over another US telecom company, MCI.
The cost: WorldCom has raised its record $30 billion by more
than 20 per cent to $37 billion.
The other players: British Telecom, which is to be paid $7 billion for its 20 per cent stake in MCI plus a $465 million fee in penalties and expenses for opting out of its merger agreement with MCI; GTE, another US telecom company and MCI suitor, which had bid $28 billion for the company.
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The Irish links: WorldCom last month bought out Irish firm, TCL Telecom; Irishman Liam Strong was appointed chief of WorldCom's international division on October 6th.
