According to both the Wall Street Journal and the New York Times, JP Morgan Chase has been hired to search for buyers. The bank will work alongside regular advisers Lazard, with a price tag of around $6bn (£3.3bn) mooted.
WorldCom was the world’s biggest bankruptcy when in collapsed in 2002 with debts $41bn after it emerged that it had routinely been listing expenses as if they were revenues.
The trial of former chief executive Bernie Ebbers on fraud charges is set to begin on 9 November in New York. Ebbers denies the charges.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements