Clinton, Miss., March 1, 2000 - MCI WorldCom and Cable &
Wireless have settled their commercial dispute stemming from the Cable
& Wireless purchase of former MCI Communication Corporation's
Internet business at the time of the MCI and WorldCom merger in 1998.
MCI WorldCom has agreed to pay Cable & Wireless $200 million in
full and final settlement, and Cable &Wireless has agreed to
withdraw all litigation and regulatory complaints associated with the
transaction. The settlement will not impact MCI WorldCom's
earnings.
"It is good to get this complex commercial disagreement behind
us," said John Sidgmore, MCI WorldCom vice chairman. "This
milestone clears the way for us to focus even more on our business at
hand and on closing the MCI WorldCom/Sprint merger."
MCI WorldCom (NASDAQ: WCOM) is a global leader in
"all-distance" communications services with operations in
more than 65 countries. Revenues in 1999 were $37 billion, with more
than $15 billion from high-growth data, Internet and international
services. MCI WorldCom and Sprint have announced a merger agreement,
which the companies expect to close in the second half of 2000 after
regulatory and shareholder approvals. For more information go to
http://www.wcom.com.
