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  • Former WorldCom officials could be indicted

    Posted July 25, 2002 - 9:04 am

    New York federal prosecutors are planning to file indictments against two former WorldCom Inc. executives for their roles in the company's accounting scandal, according to published reports.
  • AT&T loses $12.7B on dropping phone revenue

    Posted July 23, 2002 - 10:05 am

    AT&T Corp. posted a loss of US$12.7 billion for the second quarter of 2002 as revenues from both business and consumer telephone services continued to drop sharply.
  • Another DT worry: German cable company insolvent

    Posted July 22, 2002 - 11:35 am

    As if highly indebted Deutsche Telekom AG didn't have enough headaches, the insolvency of one of the German telco's earlier broadband cable divestments is almost certain to push down the price for the six remaining networks up for sale.
  • UPDATE - WorldCom will keep operating under Chapter 11

    Posted July 22, 2002 - 9:11 am

    WorldCom Inc. filed for court protection Sunday evening in the U.S. Bankruptcy Court for the Southern District of New York, seeking relief from creditors as it attempts to restructure.
  • Deutsche Telekom not to shed IT services

    Posted July 19, 2002 - 9:41 am

    The new management team of Deutsche Telekom AG (DT) has decided against selling its IT services operations, the Financial Times reported on Friday.
  • WorldCom could soon seek bankruptcy protection

    Posted July 19, 2002 - 9:15 am

    U.S. carrier WorldCom Inc. is planning to file for bankruptcy protection in the coming days, according to reports in the online editions of The Wall Street Journal and The New York Times on Friday.
  • Sprint posts mixed second quarter

    Posted July 18, 2002 - 11:43 am

    Sprint Corp. announced mixed results for the second quarter of 2002 Thursday, with revenue from its local and long distance phone division dipping below both analyst expectations and last year's results, while its PCS wireless group topped both last year's numbers and analyst forecasts.
  • Two Japanese companies in talks to challenge NTT

    Posted July 18, 2002 - 11:27 am

    Two Japanese network service operators, Internet Initiative Japan Inc. (IIJ) and Powered Com Inc., are in talks that could lead to a merger or a joint venture aimed at competing against Nippon Telegraph and Telephone Corp. (NTT), IIJ and Powered Com said at a news conference Thursday.
  • Analysis: DT's Sommer theater is over. Now what?

    Posted July 17, 2002 - 9:54 am

    Ron Sommer took the center stage for the last time on Tuesday night to announce his resignation as CEO of Deutsche Telekom AG. The German executive, once viewed as the wunderkind of German business, made a final bow to applauding investors eager to see a new management team reduce the telecom company's soaring debt load and bolster its slumping shares.
  • WorldCom documents date bad bookkeeping to 2000

    Posted July 16, 2002 - 9:23 am

    WorldCom Inc. documents show that the international division of the sinking telecommunications company found accounting irregularities more than two years ago and display a pattern of lies and financial wrongdoing by executives who wanted to reach profit forecasts.
  • UPDATE: 25 banks to sue WorldCom

    Posted July 15, 2002 - 9:06 am

    WorldCom Inc. will be taken to court Tuesday by 25 of its 27 banks in an attempt to recover a US$2.65 billion unsecured loan they provided in May, according to press reports.
  • Sommer sales: VoiceStream likely candiate

    Posted July 12, 2002 - 10:11 am

    Ron Sommer wants to keep his job as CEO of Deutsche Telekom AG so badly that he is willing to abandon his American dream and consider merging or even possibly selling DT's U.S. subsidiary, VoiceStream Wireless Corp.
  • Ebbers knew of WorldCom accounting

    Posted July 12, 2002 - 10:00 am

    Former WorldCom Inc. President and CEO Bernie Ebbers knew that the company was engaged in the deceptive accounting practices that have led the company into numerous investigations and to the verge of bankruptcy, according to U.S. Representative Billy Tauzin, a Republican from Louisiana.
  • Deutsche Telekom likely to sell more assets

    Posted July 10, 2002 - 9:52 am

    That Deutsche Telekom AG needs to reduce its
  • WorldCom sues former CFO Sullivan

    Posted July 8, 2002 - 3:20 pm

    WorldCom Inc. filed suit against its former Chief Financial Officer Scott Sullivan last Friday in U.S. District Court in Jackson, Mississippi. The suit is seeking to recover a US$10 million bonus awarded to Sullivan in 2000.
  • IDT details offer for WorldCom units, customer backup

    Posted July 8, 2002 - 11:18 am

    IDT Corp. officials Friday detailed their bid to buy WorldCom Inc. local phone offerings for businesses and MCI Communications Corp. dialup services and offered backup telecommunications plans for customers of those units. A WorldCom spokeswoman, however, said the company was not in negotiations with IDT and does not plan to sell off core businesses.
  • WorldCom: The end of a seamless dream?

    Posted July 5, 2002 - 10:02 am

    Remember the days when WorldCom Inc. boasted its global seamless services? It's not that long ago.
  • Gartner: WorldCom will be bought within 2 years

    Posted July 5, 2002 - 9:27 am

    WorldCom Inc.'s accounting scandal has thrown the company into such financial straits that it will not survive on its own, according to a Gartner Inc. analyst.
  • WorldCom's Sidgmore: Committed to transparency

    Posted July 2, 2002 - 5:18 pm

    WorldCom Inc. is committed to transparency and to rehabilitating itself, John Sidgmore, the company's president and chief executive officer, said Tuesday at a press conference at the National Press Club in Washington, D.C.
  • IDT eyes WorldCom's MFS corporate service business

    Posted July 2, 2002 - 2:55 pm

    Telecommunication firm IDT Corp. has expressed interested in purchasing WorldCom Inc.'s local phone service for businesses, but says an imminent deal is unlikely because of resistance from WorldCom.
  • Users worry about life after KPNQwest, Worldcom

    Posted July 2, 2002 - 9:50 am

    Call it The Mad Dash. Managers of corporate communication networks in Europe, after fleeing KPNQwest NV to WorldCom Inc., now find themselves on the run again, in search of an international service provider that may survive the current shakeout.
  • KPNQwest network set to be sold piecemeal

    Posted July 2, 2002 - 9:07 am

    Bankrupt KPNQwest NV's fiber-optic network, Europe's largest, will likely be sold in pieces after a bid for the company's whole network was rejected.
  • UPDATE: WorldCom finds accounting errors, fires CFO

    Posted June 26, 2002 - 9:09 am

    Telecommunications and Internet service provider WorldCom Inc. announced it will restate its financial results for 2001 and the first quarter of 2002 as a result of accounting irregularities and has terminated its CFO, Scott Sullivan. It will also continue with its previously announced plans to reduce its workforce by 17,000, beginning Friday.
  • Deutsche Telekom wins KPNQwest customers

    Posted June 25, 2002 - 10:07 am

    Deutsche Telekom AG has signed contracts to provide data communication services to several former customers of KPNQwest NV, as the bankrupt Dutch-American IP carrier struggles to keep its network running.
  • Mass Bluetooth use is years away, industry group says

    Posted June 17, 2002 - 9:45 am

    Mass use of Bluetooth for short-range wireless communication is years away. The technology's backers hyped Bluetooth and, having returned to reality, now predict that it will be eight years before Bluetooth is as commonly used as a mobile phone is today.
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