MCI

Synopsis

Archived report: this report was archived 12 August 2006 and has not been updated. MCI (formerly WorldCom) was an international telecommunications carrier, based in the US. It had operating agreements with correspondent carriers in over 200 countries with whom it provided a range of domestic and international telephone, data, Internet and video products and services and in 2000 was the largest provider of international private line services in the US. It owned a fibre optic network in North America, Latin America, Europe, and was making inroads in the Asia Pacific. In 2002 the company was racked by scandal when it was discovered that WorldCom had fraudulently inflated its profit. The company filed for Chapter 11 protection in 2002 to allow it to restructure. It emerged from bankruptcy in 2004 with a vastly improved balance sheet. In early 2005 it became a takeover target and was acquired by Verizon Communications.