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News > Deals
MCI denies AirTouch bid
January 8, 1999: 4:08 p.m. ET

Long-distance carrier stamps out rumors, says it won't pursue AirTouch
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NEW YORK (CNNfn) - Responding to a flurry of speculation, MCI WorldCom said Friday it won't pursue a merger with AirTouch Communications Inc.
     The Jackson, Miss.-based long-distance carrier, however, left the door open for future combinations.
     "After reviewing the possibility of a combination with AirTouch Communications Inc., MCI WorldCom has determined not to pursue a bid for the company at this time," MCI said in a statement. "We will continue to explore opportunities that best address the interests of MCI WorldCom shareholders and customers."
     Citing inside sources, several media outlets reported Thursday that MCI WorldCom (WCOM) was planning to outbid a $55 billion offer made earlier this week by Vodafone, a British mobile phone leader.
     The all-stock offer was expected to come sometime this week.
     AirTouch (ATI), however, has no shortage of suitors.
     Before the Vodafone offer came through, the wireless phone service company confirmed it was in merger talks with Bell Atlantic, one of the regional Bell operating companies that emerged from the forced breakup of AT&T .
     Such a combination would instantly transform Bell Atlantic into a formidable wireless communications competitor, stepping up the pressure on other telecom companies including AT&T Corp. (T), Sprint PCS (PCS) and MCI WorldCom. Back to top

  RELATED STORIES

MCI in AirTouch bid? - Jan. 7, 1999

Vodafone makes $55B offer - Jan. 6, 1999

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.