After months of speculation on Wall Street, it looks like MCI is finally up for grabs.Leucadia National ( LUK), a New York-based insurance company and value investor,
MCI emerged from bankruptcy earlier this year after collapsing as WorldCom under an $11 billion accounting scandal. New chief Mike Cappellas had hoped to refashion the Ashburn, Va., shop into an agile player, but pricing and regulatory setbacks have grown increasingly harsh. Last month, as TheStreet.com reported, the company
started to dismantle a sales unit that focused on small and midsize business, and set plans to abandon the consumer market. At the time, the move was seen as a reaction to a pricing-rule reversal that threatens to take away steep wholesale discounts the Bells have been forced to offer competitors like AT&T and MCI.