December 1999 / January 2000

MCI Worldcom/Sprint

01 December 2000

MCI WorldCom Inc is to acquire Sprint Corp for US$115 billion in the largest industrial takeover in history. The combined company, which is to be called WorldCom, will merge the second and third largest long-distance carriers in the United States, and it is estimated that the firm will have over 30 million customers and control 30 per cent of the long-distance market. The deal requires approval by both the Department of Justice and the Federal Communications Commission.