MCI seeks buyer

According to a report in the New York Times, MCI (formerly WorldCom) is looking for potential buyers. Three investment banks and a law firm have been hired to help the company in its search, with one of the main points of discussion being whether to try to sell the company whole or to split its corporate services and consumer businesses. The beleaguered telco hopes to make more than USD6 billion from a sale, though it admits that the price could be far less and that it is possible that nobody will emerge as a buyer. In the first six months of 2004 MCI lost USD459 million.