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To: Anthony Wong who wrote (4778)	7/9/1999 8:26:00 AM
From: Anthony Wong	Read Replies (1) \| Respond to of 11568

U.S. FCC Licenses Undersea Cable Group, Opening Probe, WSJ Says Bloomberg News July 9, 1999, 7:01 a.m. ET Washington, July 9 (Bloomberg) -- The U.S. Federal Communications Commission gave a license to a group of companies building an undersea cable between the U.S. and Japan, and also decided to start an investigation of the industry, the Wall Street Journal said, citing people familiar with the situation. As expected, the FCC granted a license to the group of companies including AT&T Corp., MCI WorldCom Corp., Sprint Corp. and three large Japanese telephone companies after they revised their agreement to address FCC competition concerns. However, the agency still plans an inquiry into how various groups build and operate undersea cables, the Journal said. The U.S. Justice Department is investigating whether AT&T and other established telecommunications companies are using the $1 billion undersea cable project to unfairly squash competition from upstart Global Crossing Ltd. (WSJ 7/9 C20 wsj.com)