IDT chairman Mr Howard Jonas has outlined his company's $5 billion cash and share bid for the long-distance and local telephone units of debt-laden WorldCom. He said IDT may also be interested in buying WorldCom's enterprise business.
IDT made its $5 billion offer for WorldCom's local phone units MFS Network and Brooks Fiber, which provide service to businesses, and the MCI long-distance unit on Tuesday.
But a spokesman for WorldCom last night said the group was not interested in selling the units.
"It's highly unlikely we would sell our core assets," WorldCom spokesman Mr Brad Burns said. WorldCom said it was not in negotiations with IDT.
Mr Jonas said the $5 billion offer for MFS Network, Brooks Fiber and MCI would be in partnership with other companies, such as Liberty Media and AT&T.
An AT&T spokesman said the company would not comment. Liberty Media could not be reached for immediate comment.
Mr Jonas said IDT also would be interested in WorldCom's enterprise business, which he said would be worth about $4 billion. But an offer would be based on a careful review of its books.