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Mobile

Short Take: IXC buys stake in DCI Telecom

IXC Communications will acquire 13 percent of DCI Telecommunications, an international carrier and prepaid phone card provider. Under the agreement, IXC will buy $16 million in DCI stock in exchange for management control of a customer that failed to pay IXC $18 million. DCI will assume the debt and use IXC's network over the next five years. IXC expects to take a fourth-quarter charge of $14 million as a result.

    IXC Communications will acquire 13 percent of DCI Telecommunications, an international carrier and prepaid phone card provider. Under the agreement, IXC will buy $16 million in DCI stock in exchange for management control of a customer that failed to pay IXC $18 million. DCI will assume the debt and use IXC's network over the next five years. IXC expects to take a fourth-quarter charge of $14 million as a result.