WASHINGTON — Investment firm Leucadia National Corp. said Tuesday it has a 4.96 percent stake in MCI Inc., after the firm received regulatory clearance for a possible takeover of the telecommunications company.
Leucadia owns 15.7 million common shares of MCI, based in Ashburn, Va. That represents an investment of $245.9 million, according to a Securities and Exchange Commission filing.
Leucadia, which is run by chairman and former Utah resident Ian Cumming and president Joseph Steinberg from offices in Salt Lake City and New York, said on Aug. 9 that the Federal Trade Commission and U.S. Department of Justice let the waiting period expire on a request to potentially acquire a controlling stake in MCI.
Leucadia told the antitrust regulators last month it wanted clearance to acquire 50 percent or more of MCI's shares.
In Tuesday's filing, Leucadia said it amended a registration statement to read, "We cannot assure you that we will acquire control of MCI."
Shares of MCI closed Tuesday at $16.73, up 19 cents, or 1.2 percent, on the Nasdaq Stock Market.
Leucadia shares ended at $51.25, up 53 cents, or 1 percent, on the New York Stock Exchange.