HELP CMD SHINE A LIGHT ON CORRUPTION!

Thanks to a $50,000 challenge grant, your gift will be matched 1-to-1, so every dollar you give today will go twice as far!
GIVE TODAY!

MCI

From SourceWatch
Jump to: navigation, search

In January 2006 it was reported that: "Verizon Communications and MCI closed their merger on Friday, creating a carrier with a massive U.S. presence in homes and businesses as well as a major global data network.

"The merger, agreed upon last Feb. 14, followed a high-stakes battle for MCI between Verizon and another U.S. regional carrier, Qwest Communications International. Along with SBC Communications' acquisition of AT&T to form the new AT&T, a deal that closed late last year, it completes a wave of consolidation of the U.S. telecommunications industry. Verizon, based in New York, will keep its corporate name and now has approximately 250,000 employees serving customers in 150 countries. The combined company has approximately $90 billion in annual total consolidated operating revenues.

"Verizon's top management team, led by Chairman and Chief Executive Officer (CEO) Ivan Seidenberg, and Board of Directors will remain unchanged, the company said. Michael Capellas, who was president and chief executive officer of MCI, is leaving the business now that the merger has closed, the company said.

"Business and government customers of the former MCI will be served by a new unit of Verizon, called Verizon Business. The new group will also absorb the former Verizon Enterprise Solutions Group. The new unit operates a global IP network of more than 100,000 miles and will announce new products and services later this month. John Killian, formerly senior vice president and chief financial officer of Verizon's domestic telecommunications business, has been named president of the new unit." [1]

Resources and articles

Related Sourcewatch articles

References

  1. Verizon and MCI close merger, infoworld, accessed May 18, 2009.