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Technology Stocks : CAWS - Wireless Cable (New and Improved) -- Ignore unavailable to you. Want to Upgrade?

To: Jose A. Suarez who wrote (5797)	4/27/1999 10:05:00 AM
From: jad	Read Replies (1) \| Respond to of 5812

CAI Wireless, MCI Affirm Deal CAI Wireless Systems has agreed to an offer by MCI WorldCom to be purchased for about $483 million in cash. Last week, MCI announced a tentative agreement to purchase CAI for $24 a share. However, in the agreement announced late Monday, CAI set the price at $28 a share. MCI WorldCom has been the only major telephone company without a stake in the lucrative and rapidly growing market for wireless communication. CAI Wireless has been seeking a partner since it emerged from bankruptcy protection in October 1998. CAI operates six analog-based wireless subscription video systems in New York City, Rochester and Albany, Philadelphia, Washington, D.C., and Norfolk/Virginia Beach, Va. CAI also owns wireless channel rights in Long Island, Buffalo and Syracuse, Providence, R.I., Hartford, Conn., Boston, Baltimore, Md., and Pittsburgh. In addition, CAI owns 94 percent of CS Wireless Systems Inc., a wireless operator based in Plano, Texas. Copyright 1999 Associated Press, All rights