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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: Tim Luke who wrote (27329)	12/13/1998 7:28:00 PM
From: Sheri	Read Replies (1) \| Respond to of 119973

OZEMY (PR NEWSWIRE) MCI WorldCom Announces Intention to Acquire Australia's OzEm MCI WorldCom Announces Intention to Acquire Australia's OzEmail Limited; Telecom Firm Has Purchased 14.9 Percent of Australian ISP JACKSON, Miss. and SYDNEY, Australia, Dec. 13 /PRNewswire/ -- MCI WorldCom, Inc. (Nasdaq: WCOM) today acquired 21,863,174 newly issued ordinary shares in OzEmail Limited ("OzEmail") and announced that it will make a cash offer for all of the issued ordinary shares (including ADSs) of OzEmail (Nasdaq: OZEMY, Australia: OZM). UUNET Holdings Australia Pty Limited, a wholly owned subsidiary of MCI WorldCom, will make an all cash offer to acquire all of the issued ordinary shares of OzEmail at a price of US$2.20 per share, currently equivalent to approximately A$3.54 per share(1), including ADSs at a price of US$22.00 per ADS. OzEmail has 146,732,714 ordinary shares issued and outstanding after the placement to MCI WorldCom, representing a total value for OzEmail's ordinary issued and outstanding shares of approximately US$322.8 million, currently equivalent to approximately A$520.0 million(1), based on MCI WorldCom's offer price. MCI WorldCom acquired the relevant interest in 21,863,174 ordinary shares by way of a share subscription agreement with OzEmail at US$2.00 per share, currently equivalent to approximately A$3.22 per share(1).