British Telecommunications (BT) has a range of options open to it now that its bid for America's MCI Communications Corp has been trumped by acquisitive US carrier WorldCom Inc, analysts said yesterday. The British group has erected a wall of silence since WorldCom on Wednesday stunned the markets and threw a spanner into BT's global expansion plans by offering $30 billion (£20.6 billion) for control of MCI in the biggest bid on record.
As BT's shares rang up further gains on relief at a possible escape from what was perceived to be a dilutive deal, BT is coming under increasing pressure from investors to return cash to shareholders through either another special dividend or share buy-back.
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