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WorldCom to Sell Former CEO’s Ranch

From Reuters

WorldCom Inc. said it planned to sell Canada’s biggest working cattle ranch, previously owned by former Chief Executive Bernard J. Ebbers, for about $68.5 million to U.S. sports mogul Stanley Kroenke.

Proceeds from the sale of the Douglas Lake Ranch will be used to pay off some of the more than $400 million Ebbers borrowed from the company.

From Reuters


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