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Verizon Communications: Worlds
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In a move designed to strengthen its position in the rapidly changing industry, Verizon offered $6.3 billion to acquire MCI Inc. in February 2005. MCI was a global communications provider with revenues exceeding $20 billion. MCI and WorldCom Inc. had joined together in 1997 in what was the largest merger in U.S. corporate history at the time. The $37 billion union eventually ended in disaster. WorldCom declared bankruptcy in 2002 during a highly publicized accounting scandal. MCI emerged from Chapter 11 protection in April 2004.
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Verizon and Vodafone have a coordinated trial plan for LTE that begins in 2008. Trial suppliers include Alcatel-Lucent, Ericsson, Motorola, Nokia- Siemens, and Nortel. These suppliers, along with others in the world community, have contributed significantly towards development of the standards in 3GPP.
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The BlackBerry 8830 World Edition smartphone is available today in Verizon Wireless Communications Stores for $299.99 after a $100 rebate with a new two- year customer agreement. An additional $100 credit toward the purchase of the device is available for customers who sign up for qualifying voice and data plans at the time of purchase.
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In January 2006, Verizon completed its acquisition of independent long-distance carrier MCI, formerly WorldCom, a cash-and-stock transaction valued at nearly $8.5 billion. It now owns more than 270,000 domestic and 360,000 international route-miles of fiber-optic cable in more than 140 countries.
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