The Nasdaq has announced that it has delisted the securities of WorldCom Inc.
In a statement to the markets this morning, Nasdaq said the decision was based on WorldCom's failure to comply with the listing requirement that it remain current in its periodic filings with the SEC, and concerns over the company's ongoing bankruptcy proceedings.
The delisting is effective from the open of business today.
Worldcom revealed in the middle of July it had widened its accounting inquiry beyond the alleged $3.8 billion (€3.8 million) fraud disclosed at the end of June. That led to new questions about its handling of big acquisitions in the 1990s.