Report: WorldCom To Shutter Wireless Business

WorldCom The San Francisco Chronicle

The article also reports that WorldCom is no longer signing new customers. WorldCom has about 1.7 million wireless subscribers.

On a call with press and analysts Wednesday, WorldCom CEO John Sidgmore said WorldCom has assets worth between $1 billion and $1.5 billion that it is seeking to sell over the next several months.

During that call, Sidgmore said the carrier was seeking to sell the wireless unit as quickly as possible.

"We think we can [sell the assets and that will help us deleverage if we're successful," said Sidgmore. "The reality is that the more important reason to sell these assets is to make the company less complex and more efficient from an operating point of view."

Several of these assets are in countries WorldCom does not deem strategic or critical to its global operations, such as an intra-Japanese network, he said.

In response to the report Thursday, the company said executive management is conducting a review of all business assets and said it is premature to speculate on what this review will ultimately conclude.