LONDON-Cable & Wireless plc announced plans to purchase MCI Communications Corp.’s Internet communications business for $1.75 billion in cash.
An agreement previously announced May 28 included only the Internet backbone services business and the Internet Service Provider customers, with a price tag of $625 million.
The new agreement includes the transfer of MCI’s retail Internet customer base, including a substantial corporate customer base and about 1,000 specialist employees, said Cable & Wireless.
“This is a tremendous opportunity for Cable & Wireless,” said its chief executive, Richard H. Brown. “It would take years to build a business like this.”
