COMMUNICATIONS: Gnat v. Elephant

MCI Communications Corp. seems like the last company likely to worry American Telephone and Telegraph Co.

AT&T, which has $67 billion in assets, is the biggest of all corporate elephants; by comparison, MCI, whose principal asset is a $64 million line of bank credit, is scarcely even a gnat. Yet MCI last week bested Ma Bell in a court test that, in the eyes of A T & T officials, makes it a serious competitor. AT&T Chairman John D. deButts is, in his own words, "marching up and down the land" complaining to business audiences...

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