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IDB COMMUNICATIONS GROUP TO COMPLETE ACQUISITION OF WORLDCOM EUROPE

 LOS ANGELES, Oct. 15 /PRNewswire/ -- IDB Communications Group Inc. (NASDAQ: IDBX) today announced that it has signed a letter of agreement with Motor-Columbus AG, the parent holding company of TC USA, to acquire an additional 60 percent of the capital stock of TC WorldCom AG (WorldCom Europe) for $10 million in cash plus other considerations.
 IDB acquired 40 percent of WorldCom Europe in connection with its acquisition of WorldCom in December 1992. A definitive agreement will be executed by Oct. 31, 1993. The deal is expected to close by mid-November 1993 and once completed, IDB will own 100 percent of WorldCom Europe. IDB plans to roll WorldCom Europe into its IDB WORLDCOM unit. Projected revenue for WorldCom Europe is estimated at $35 million for 1994.
 Edward R. Cheramy, IDB president, stated, "Upon closing of this deal, our complete ownership of WorldCom Europe should add 3 cents to 5 cents per share in net income during 1994."
 "This agreement further recognizes our commitment to greatly expand IDB's spectrum of offerings in the international telecommunications network sector," said Jeffrey P. Sudikoff, IDB chairman and chief executive officer. "We expect this agreement to generate significant operating efficiencies and increased per share earnings as we consolidate WorldCom Europe into IDB WORLDCOM beginning in 1994."
 WorldCom Europe provides international private line and long distance telephone services in Europe, principally the United Kingdom and Germany, and in 1992 generated approximately $6 million in revenue from these activities.
 IDB Communications Group Inc. is a global telecommunications company that operates a domestic and international communications network providing its customers with radio and television transmission services, international private line and long distance telephone services, facsimile and data connections, mobile satellite communications capabilities and the design and integration of satellite networks worldwide.
 -0- 10/15/93
 /CONTACT: Edward R. Cheramy, president of IDB, 213-240-3770; or Rudy Wann, vice president and chief financial officer of IDB, 213-240- 3805; or Ken Dennard or Doug Sherk, 415-296-7383, both of Morgen-Walke for IDB/
 (IDBX)


CO: IDB C PK-LH -- SF007 -- 2555 10/15/93 06:30 EDT
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Publication:PR Newswire
Date:Oct 15, 1993
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