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Article: Verizon to Purchase MCI Stake Held by Carlos Slim Helu
- Article from:
- Wireless News
- Article date:
- April 10, 2005
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Wireless News
04-10-2005
Verizon to Purchase MCI Stake Held by Carlos Slim Helu
WIRELESS NEWS-April 10, 2005-Verizon to Purchase MCI Stake Held by Carlos Slim Helu (C)2005 10Meters - http://www.10meters.com
Verizon Communications announced an agreement to purchase approximately 43.4 million shares of MCI, Inc. common stock from eight entities affiliated with Carlos Slim Helu for $25.72 per share in cash, or $1.12 billion.
The purchase, which is subject to regulatory approvals, is expected to close in several weeks.
Under the agreement, Verizon will pay the Slim entities an adjustment at the end of one year in an amount per MCI share equal to 0.7241 times the amount by which the price of ...