Telecom USA MCI merger eyed with Cedar Rapids role
The two companies discuss a May merger expanding operator services and creating MCI Enterprises in Cedar Rapids. Clark McLeod says the deal preserves Telecom USA jobs, adds talent value, and speeds product rollout while PTI will keep marketing MCI services in Iowa. Analysts note strong product development history and 14 percent market share target.
MENTIONED IN THIS ARTICLE
McLeod
MCI
Telecomx USA
Teleconnect Co
Telecom*usa
Cedar Rapids Optimism Grows Over Telecom MCI Merger
Local executives express cautious optimism about Telecom staying in Cedar Rapids after the Teleconnect and SouthernNet merger with MCI. They highlight strong management, potential for growth, and value from selling Telecom stock to invest locally, noting the deal may bolster resources and preserve entrepreneurship.
MENTIONED IN THIS ARTICLE
Cedar Rapids
MCI
Liu
Jack Evans
SCI Financial Group
Evans
McLeod
Big winners eyed if Teleco sale to MCI wins approval
IE Industries, parent of Iowa Electric Light and Power, has invested about 20 million in Teleconnect and Telecom USA. IE owns 2.46 million Telecom shares about 9 percent. The MCI offer at 42 a share could yield about 103 million for IE. Teleconnect and Telecom largest holder SCANA holds 11 percent.
MENTIONED IN THIS ARTICLE
Telecomx*xusa
MCI
IE Industries
Iowa Electric Light and Power Co
Teleconnect Co
Teleconnect
Telecom
Lee Liu
Telecom*usa
Clark McLeod
Scana Corp
South Carolina Electric & Gas
Lavern T. Busse
Cedar Rapids
Teleconnect Co. to be bought for 1.25 billion
Teleconnect Co the predecessor to Tele com xUSA faces a 1.25 billion buyout after a decade of growth. Founded by Clark McLeod and partners in 1980 the firm started with six employees in Cedar Rapids and expanded into long distance service and telemarketing, building a regional footprint in Iowa.
MENTIONED IN THIS ARTICLE
Telecom*usa
Teleconnect Co
Cedar Rapids
SouthernNet
Atlanta
United States
Telecom**usa
MCI Communications
MCI
Clark McLeod
C.R
Teleconnect
Center Point Road
At&t
Northwestern Bell
Iowa
North Towne Lane
WilTel Communications
Wichita
Kan
Iowa National Mutual Insurance Co
50Th Street
Inc. Magazine
Icut
Western Union
Seven Oaks
Memphis, Tenn
Async Corp
Omaha
Teleconnectxusa
Central
Davenport
ALC Communications
Birmingham
Mich
Telecomxusa
Telecom*xusa Enterprises
TelecomxUSA Stock Near All Time High After Buyout News
TelecomxUSA shares surged after MCI Corp announced a buyout, climbing toward the $42 offer as TelecommxUSA traded millions of shares on the NYSE and NASDAQ. The move echoed the typical premium pattern seen in buyouts, with market activity strong for both TelecommxUSA and MCI stocks.
MENTIONED IN THIS ARTICLE
Bruce Fishwild
Gazette
Telecom*usa
MCI Corp
Teleco
Telecomxusa
Also Mentioned on This Page
Roberts
Telecom*xusa
American Telephone & Telegraph Co
Xusa
PTI
Sergeant Bluff
Iowa City
Stephen J. Shook
Interstate Johnson Lane
Charlotte
N.C
Keting
Clark
Collins
USA
Mxusa
New York Stock Exchange
50Th Avenue SW
Inter-Comm Telephone Inc
Kansas City
A Connect
R.J. Reynolds Tobacco CO
FIC
Cowboy
Vantage
Jaribore
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!