Subject:  Is the Blue World out of "our" control??? (Guru) 
Date:     Tue, 5 Oct 1999 042942 -0500 (CDT)
From:     "Roy L. Beavers" 
To:       emfguru 
--------------------------------------------------

Hi everybody:

........Can you believe it?  The company that would result from the
merger of the two telecom companies reported below (MCI and Sprint)
will be bigger than the merger of EXON and MOBIL, the two (already
'giant') international energy companies!!

This is another example of the results of the 1996 Telecom Act --
which was supposed to PROMOTE COMPETITION ... not huge conglomerate
monopolies.......  The lower telephone/cable rates touted below should
NOT be regarded as permanent.  In an unregulated environment, once
the giant monopolies have been formed, those low rates will disappear....
Those of us who live in the rural areas are already seeing that in our
cable (satellite) TV rates....

Pure and simple: the 1996 Telecom Act was sold to the American people ...
(who actually had NOTHING to do with the drafting of the Act; that was
done by the BIG $$$$$$ contributors' lobbyists) ... under false
premises.....

We are now seeing the true purpose of that Act -- which was to serve 
interests of the likes of MCI and SPRINT, not the public.....

A Frankenstein is loose in our world ... and you are seeing its Blue
World consequences below.....

These giant international conglomerates are simply too big for our --
corrupted(!!) -- democracies to control.....  Certainly they are too big
for the American people to control in their own interest ... so long as
the mechanism of that "control" relies upon the U.S. Congress.....

Cheerio....

Roy Beavers (EMFguru)......
rbeavers@llion.org.......
.....It is better to light a single candle than to curse the darkness.....
EMF-L web-site can be found at: 
EMF-L archives can be found at: 
..................PEOPLE ARE MORE IMPORTANT THAN PROFITS..................

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01:11 AM ET 10/05/99

Sprint Accepts MCI WorldCom Bid


 By NOELLE KNOX=
 AP Business Writer=
           NEW YORK (AP) _ MCI WorldCom Inc. made a successful $115 billion
 bid for Sprint Corp. on Monday in what would be the largest
 corporate takeover in history, according to a person familiar with
 the negotiations.
           MCI WorldCom sweetened its $93 billion offer rather than risk
 losing the nation's No. 3 long distance carrier to rival BellSouth
 Corp., which had offered $100 billion, the person said on condition
 of anonymity.
           Under the deal, MCI would pay $76 per share in stock, far more
 than the $72 per share in cash and stock that BellSouth offered,
 the source said.
           The boards of both companies voted to approve the deal Monday.
 Neither company would comment.
           The companies were expected to announce the deal Tuesday. A
 successful bid would produce the largest corporate merger ever,
 eclipsing the pending $82 billion deal between Exxon Corp. and
 Mobil Corp.
           It was unclear late Monday whether BellSouth, an Atlanta-based
 Baby Bell, would raise its offer or walk away. Executives continued
 to meet with bankers and lawyers Monday night.
           Also unclear was the potential of a third bid from Deutsche
 Telekom, which owns 10 percent of Sprint.
           MCI WorldCom is the nation's second biggest long-distance
 company and one of the world's biggest operators of the networks
 that make up the Internet, but has no wireless calling business.
 Sprint PCS would fill that hole nicely.
           BellSouth wants Sprint's long-distance business to complement
 its local telephone business in nine Southeast states. Like the
 other Baby Bells, the Atlanta-based company is hopeful that federal
 regulators will soon allow it to offer long-distance service in its
 home region.
           Deutsche Telekom, meanwhile, needs Sprint to establish a
 foothold in the U.S. market.
           Even the mightiest telecommunications companies are racing to
 grab an edge in technology and geographic reach so they can compete
 in a market where distinctions between telephones, television,
 radio and computers are disappearing.
           That's why Sprint, a leading player in long distance, wireless
 and Internet services, is such a plum target.
           Consumers might not see any immediate benefit for long-distance
and wireless calling rates are already at historic lows.
           But with cutthroat competition driving telecom companies into
 new markets such as cable television, consumers are expected to
 enjoy increasingly attractive bundles of telephone, TV and Internet
 services.
           MCI WorldCom, based in Jackson, Miss., not only beat BellSouth's
 offer, but also promised greater cost savings and a nationwide
 customer base. In addition to the purchase price, MCI will also
 assume $13 billion in Sprint debt, the source said.
           Sprint's stock jumped $3.87{ to $60.87{ Monday on the New York
 Stock Exchange, while BellSouth's shares fell $2.68} to $42.68}. In
 Nasdaq trading, MCI WorldCom's stock rose $1.12{ to $71.62{.
           Regulators are expected to scrutinize any deal Sprint makes.
 Congress passed the Telecommunications Act of 1996 to spur
 competition, but mergers have greatly reduced the number of major
 players in the industry.
           Last week, Bill Kennard, chairman of the Federal Communications
 Commission, said, ``We cannot allow any merger to happen in this
 industry that turns back the clock on that competition.''

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Reprinted with permission of Roy Beavers, http://www.emfguru.com