12.19.1997Enterprise Tech

WorldCom and MCI statement on European Commission merger review


Jackson, MS and Washington, D.C. -- WorldCom and MCI today issued the following statement regarding the European Commission's review of their pending merger.

The Merger Task Force of the European Commission has advised WorldCom and MCI that it decided to defer an initial decision on a merger clearance pending receipt of additional information from the parties. MCI and WorldCom will supply further information as expeditiously as possible and anticipate a decision within one month thereafter. This action by the Commission should not extend the date by which MCI and WorldCom receive all the necessary regulatory clearances for their merger, which the companies anticipate will close in mid 1998.

On November 10, 1997, MCI and WorldCom announced a definitive merger agreement to form a new company called MCI WorldCom.