MCI denies AirTouch bid
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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.
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MCI WorldCom
AirTouch
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