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M&A players: British Telecom and MCI Communications Value: $20 billion Announced: November 3 Investment bankers: Lazard Brothers, NM Rothschild, Morgan Stanley British Telecom has publicized its proposed merger with MCI Communications of the US as an exercise in lowering overheads and increasing global reach. But large numbers of shareholders may not wish to wait for the benefits to come through. A wave of post-merger selling is expected, especially from former MCI shareholders who have no interest in owning a foreign utility they consider only a rung up from a nationalized industry. |
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