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...But telecoms such as WorldCom also suffered because they built infrastructure for users and data demand that failed to materialise....
...It narrowly avoided bankruptcy, as others including Global Crossing and MCI WorldCom imploded, and positioned itself to deliver on its original promise to provide the pipes for burgeoning data demand....
...phone network....
...Fees in other famous bankruptcy cases, such as WorldCom and Enron, came to between 1 per cent and 2 per cent of the assets, said Douglas Baird, a professor at the University of Chicago Law School....
...By the mid-1990s the telecoms market was booming, thanks to the growth of the internet, and by 1996 BT and its then US partner MCI had built was what then the world’s largest internet network, via their...
...UK rival Vodafone had bought Germany’s Mannesmann in 1999, and Sprint and MCI Worldcom, its US rival, were planning a merger, which was later abandoned....
...Meanwhile, MCI found it difficult to escape its past as Bernie Ebbers, WorldCom’s former chairman and chief executive, was rarely far from the headlines....
...He cited last week’s launch of V CAST Music, Verizon Wireless’ new digital music download service, as an example of the innovation and new products that continue to drive wireless growth....
...by WorldCom before it collapsed into bankruptcy amid a huge accounting scandal....
...MCI, formerly known as WorldCom, emerged from Chapter 11 bankruptcy protection in April last year following an huge accounting scandal....
...services....
...He says: “AT&T and WorldCom want us to give away market share. Well, they’re going to have to earn it.”...
...Last month SBC Communications agreed to buy AT&T for $16bn, triggering speculation that MCI, formerly WorldCom, might be the next target....
...AT&T, the telecoms company that had some $10bn of corporate debt outstanding, slipped to junk status last year but bond markets barely stirred....
...Senior telecoms executives indicated that C&W and the European arm of MCI, formerly bankrupt WorldCom, were engaging in aggressive pricing in an effort to win new business....
...Following the re-emergence from Chapter 11 bankruptcy of telecoms operators such as Global Crossing and MCI formerly WorldCom fixed-line operators are reporting renewed aggression from these carriers with...
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