Spanish telco Telefonica has confirmed it is to team up with prospective merger partners Worldcom and MCI, to break into the Spanish speaking markets in Europe and the US. Telefonica will have the option of taking a minority stake in Worldcom's European businesses, while MCI could take a small shareholding in its Spanish partner.
Telefonica is in the process of backing out of its partnership with BT, which was established when BT was expected to merge with MCI.
* The US Justice Department is to probe further into the proposed merger between Worldcom and MCI for antitrust problems, according to US reports. Internet services are understood to be one of the key areas under the microscope.
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