EU Is Expected to OK WorldCom’s MCI Bid

WorldCom Inc.’s $45.8-billion purchase of MCI Communications Corp. is expected to get formal approval from European Union regulators today, clearing a major antitrust hurdle to an acquisition that will create the second-largest U.S. phone company. The expected decision by the 20-member European Commission, the EU’s executive agency, will cement the tentative approval given when MCI offered last month to sell its entire Internet business, which analysts estimate could fetch more than $1 billion. The companies also guaranteed they won’t try to win back former MCI Internet customers. To comply with the EU ruling, the companies need to choose a buyer for MCI’s Internet business and complete the sale within a certain period of time. The acquisition also still needs approval from U.S. regulators, who are looking at the companies’ combined 25% share of the $70-billion U.S. long-distance market. A final ruling isn’t expected until the fall.