News Advisory: IDT Corp. to Unveil its “WorldCom Stabilization Plan”
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WHAT: It has been well publicized that IDT Corp. has made an offer to acquire WorldCom’s MFS and Brooks Fiber units and its MCI consumer and small business long distance units. While these acquisitions are a strategic business move by IDT Corp, the company also believes that as the potential next owner of MCI, the MFS network and Brooks Fiber, Inc, IDT has a duty and obligation also to help preserve the integrity and stability of the national economy and insure that MCI/WorldCom customers have continued and uninterrupted high quality telecommunications service whether caused by a bankruptcy court ordered shutdown or a network outage due to a work stoppage, vandalism to the network or any other unforeseen reason.
IDT Chairman, Howard Jonas, IDT CEO Jim Courter, along with Winstar CEO Brian Finklestein will unveil IDT’s comprehensive “WorldCom stabilization plan,” which is designed to help calm the fears of WorldCom customers, and thereby keeping them on the WorldCom network and provide them with back-up and alternative service, in case of a full or partial shut down of the WorldCom network, while negotiations between IDT Corp. and WorldCom continue.
WHEN: 12 Noon Friday July 5, 2002
WHERE: Call-in conference call for qualified members of media. Members of media must call either Mary Jennings at (973) 438-3124 or Gil Nielsen at (973) 438-4002 on Friday July 5, 2002 for a call-in number.
Investors and other parties interested will be able listen to the press conference with a special listen-only call-in number.
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Jul 03, 2002 |
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