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To: Ahmad Sinno who wrote (4660)	6/29/1999 6:29:00 PM
From: GRANOLA	Read Replies (1) \| Respond to of 11568

does anyone know when the next earnings report is due out? thanks, GR

To: Ahmad Sinno who wrote (4660)	6/30/1999 9:17:00 AM
From: Anthony Wong	Respond to of 11568

U.S. Justice Dept in sub-sea cable probe - WSJ NEW YORK, June 30 (Reuters) - The U.S. Justice Department has launched an antitrust investigation of the undersea cable business that involves some of the world's biggest telecommunications companies, the Wall Street Journal reported on Wednesday. A department spokeswoman confirmed that antitrust enforcers are "looking at the possibility of anti-competitive practices in the international undersea cable industry." She declined to elaborate, according to the paper. If enforcers find that these telephone companies have violated antitrust laws, the probe could lead to significant changes in the way that the companies sell voice and data-transmission services around the world, the paper said. It couldn't be determined which companies had been notified of the Justice Department's investigation. A spokesman for Sprint Corp. <FON.N> said the company received an 18-page "civil investigative demand" from the department concerning practices of a consortium that is building a $1.2 billion undersea cable between the U.S. and Japan; he wouldn't elaborate, the Journal reported. A spokesman for Level 3 Communications Inc. <LVLT.O>, another member of the trans-Pacific consortium that has built these cables, said that company also had received the letter, which is a formal demand for information relating to a department investigation. The spokesman wouldn't comment further. Other members of the trans-Pacific consortium include AT&T <T.N>, MCI WorldCom <WCOM.O>, and three of Japan's biggest telephone companies, the paper said. A spokesman for AT&T declined to comment, and an MCI spokeswoman said she had no information late Tuesday. The Japanese companies couldn't be reached for comment, the paper reported. U.S. Justice Dept Starts Undersea Cable Cartel Probe Bloomberg News June 30, 1999, 5:22 a.m. ET Washington, June 30 (Bloomberg) -- The U.S. Justice Department launched an antitrust investigation of the undersea cable business, the Wall Street Journal Interactive reported, citing a department spokeswoman. The report did not say which companies had been notified of the investigation, but the business is dominated by groups led by companies like AT&T Corp., Sprint Corp. and NTT Corp. If the investigation finds that companies have violated antitrust rules, there may be significant changes in the way companies sell voice and data-transmission services around the world, the WSJ said. On June 23 the European Union made Europe's former phone monopolies separate their telephone and cable-television businesses, boosting growth in new markets, such as high-speed Internet access. (The WSJ Interactive, 6/30 www.wsj.com)