MCI shareholders have launched a predictable class action lawsuit against the company for agreeing to revised terms for its merger with BT (see Newswire, 22 August).
The shareholders claim they were not consulted over the negotiations and complain that an MCI statement, made to the Securities and Exchange Commission before last week?s renegotiation, suggested the deal would go ahead under the original terms (see Newswire, 19 August).
In October or November, MCI shareholders will have a chance to vote on the new deal - an agreement that gives them more cash but fewer shares in the combined company, Concert, than under the original terms. MCI president, Tim Price, said he was confident the extra cash would please shareholders despite the fact they will own only 25 per cent of Concert rather than the 35 per cent originally negotiated.
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PUBG news and updates: November's Update #23 to bring new Skorpion pistol and changes to blue zone visibility
Genuinely useful side-arm coming to PUBG in Update #23