MCI to Scrutinize WorldCom’s Takeover Bid

MCI Communications Corp. is starting to look seriously at WorldCom Inc.’s $29.4-billion takeover bid, scrutinizing whether the stock deal would hold its value and whether it would pass muster with regulators, people close to the companies said. The board of MCI planned to meet in Washington today and was expected to direct its management to earnestly weigh the surprise offer against a long-standing agreement to be acquired by British Telecommunications. MCI expects to decide within the next few weeks whether to negotiate with WorldCom, the sources said, speaking on condition of anonymity. Although WorldCom’s offer is worth about $9 billion more on the face of it, MCI is unsure if WorldCom’s payment, all in stock, would retain its worth by the time a deal is signed. In Nasdaq trading, Washington-based MCI’s shares rose 25 cents to close at $35.13; Jackson, Miss.-based WorldCom’s shares rose 31 cents to close at $37.13.