📅 - MCI (mci.com) said yesterday it planned to purchase the 39 percent of Digex, a Web hosting provider based in Maryland, that it did not already own.
The company said it had filed a motion with the U.S. Bankruptcy Court for the Southern District of New York seeking authorization to purchase all outstanding publicly traded common stock of Digex (digex.com) for a total of approximately $18 million dollars. MCI said if it acquired approximately 75% of the outstanding shares of Digex's publicly traded common stock, it would then purchase all of the outstanding Digex preferred stock, pursuant to an agreement with the owners of this stock. MCI said that following this, Digex would merge with an MCI subsidiary. Today, the company reportedly said it had already reached an agreement with Hewlett-Packard to purchase the computer giant's preferred Digex shares for $11 million. According to MCI, the potential purchase would enable MCI to expand its managed services portfolio ? a key element of its reorganization plan. It also said the purchase would assure Digex and MCI customers of its commitment to supporting their hosting services.
Reads: 2048 | Category: General | Source: TheWHIR : Web Host Industry Reviews URL source: http://www.thewhir.com/marketwatch/mci072503.cfm
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📅 - MCI (mci.com) said yesterday it planned to purchase the 39 percent of Digex, a Web hosting provider based in Maryland, that it did not already own.
Reads: 2048 | Category: General | Source: TheWHIR : Web Host Industry Reviews