WorldCom won court approval yesterday for a reorganization plan that would allow it to emerge from the largest bankruptcy in history early next year. Now the company, the nation's second-largest long-distance phone company after AT&T, will turn its full attention to increasing its revenue and rebuilding its thin profit margins. The competitive climate in the industry is tough, and analysts say a wave of consolidation is likely, with WorldCom a possible acquisition target. "We're ready to move on," said Michael D. Capellas, the longtime computer executive who was brought in a year ago to be WorldCom's chief executive and to lead the rebuilding process.
Posted by Editor at November 3, 2003 10:51 AM