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SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )
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240.14a-12
MCI COMMUNICATIONS CORPORATION
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(Name of Registrant as Specified In Its Charter)
WORLDCOM, INC.
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[WORLD COM LOGO]
NEWS RELEASE
FOR MEDIA: FOR INVESTORS:
Josh Howell, (601) 360-8750 Gary Brandt, (601) 360-8544
Mark Weeks, 011-44-171-570-5759
Joele Frank, Abernathy/MacGregor, (212) 371-5999
Lucas van Praag, Brunswick Group, 011-44-171-404-5959
FOR IMMEDIATE RELEASE
WORLDCOM RESPONDS TO MCI AND
BRITISH TELECOM AGREEMENT PERMITTING
DISCUSSIONS WITH WORLDCOM
Jackson, Miss., October 16, 1997 -- WorldCom, Inc. (NASDAQ: WCOM)
issued the following statement in response to the MCI (NASDAQ: MCIC) and
British Telecom agreement permitting discussions with WorldCom:
"We are delighted to have the opportunity to discuss our offer with MCI
and British Telecom. We believe a WorldCom-MCI transaction offers compelling
financial benefits and powerful synergies. By 1999 in a WorldCom-MCI merger,
cost synergies -- before revenue enhancements -- are conservatively expected
to be $2.5 billion; over five years, WorldCom-MCI's cost synergies -- before
revenue enhancements -- are anticipated to total at least $15 billion.
Together, WorldCom and MCI will have the capital, marketing abilities, and
state-of-the-art network to compete more effectively, and help fulfill the
intent of the Telecommunications Act of 1996.
"We believe that our offer provides superior near-term and long-term
value for MCI shareholders, bondholders, employees, and customers. We are
confident that our offer can be completed no later than the first quarter of
1998."
WorldCom is a global telecommunications company. Operating in more than
50 countries, the company is a premier provider of facilities-based and fully
integrated local, long distance, international and Internet services.
WorldCom's subsidiary, UUNET Technologies, Inc., is an international provider
of Internet services with over 1,000 Points of Presence (POPs) throughout the
United States and in Canada, Europe and the Asia-Pacific region. WorldCom's
World Wide Web address is http://www.wcom.com. The common and depository
shares of WorldCom trade on the NASDAQ National Market (US) under the symbols
WCOM and WCOMP, respectively.
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