Business Services Industry
WorldCom Gives Up Cell Phones in Cost-Saving Move.
Knight Ridder/Tribune Business News, August, 2002
By Beatrice E. Garcia, The Miami Herald Knight Ridder/Tribune Business News
Aug. 6--WorldCom's two million wireless customers will receive notices shortly that their service is being transferred to a new provider because the bankrupt telecom giant is leaving the cellular phone business.
It wasn't a big winner for WorldCom anyway. Last year, the cellular business lost $700 million. Getting out now is a cost-saving move for the company, which is working to reorganize its financial house after its startling announcement five weeks ago that it had booked more than $3.8 billion in capital charges improperly as expenses.
WorldCom's cellular customers will be taken over by a variety of wireless carriers including AT&T Wireless, Verizon...
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