MCI Inc.: Difference between revisions
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The US [[Securities and Exchange Commission]] launched an investigation into these matters on [[June 26]], [[2002]] (See [[accountancy scandals]]). |
The US [[Securities and Exchange Commission]] launched an investigation into these matters on [[June 26]], [[2002]] (See [[accountancy scandals]]). |
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The BBC has reported that chief executive of WorldCom |
The BBC has reported that John Sidgmore, the chief executive of WorldCom, has said that it is about to file for bankruptcy protection. |
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Revision as of 17:09, 21 July 2002
WorldCom (WCOM) is the United States' second largest long distance phone company (AT&T is the largest). WorldCom grew largely by acquiring other telecommunications companies, most notably MCI. It also owns the Tier 1 ISP UUNet, a major part of the Internet backbone.
In June, 2002, an internal audit discovered that US$3.7 billion had been 'misaccounted.' The US Securities and Exchange Commission launched an investigation into these matters on June 26, 2002 (See accountancy scandals).
The BBC has reported that John Sidgmore, the chief executive of WorldCom, has said that it is about to file for bankruptcy protection.
External links: