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To: rachel who wrote (4590)	6/4/1999 11:40:00 AM
From: Anthony Wong	Respond to of 11568

Report: SEC probes MCI WorldCom on SkyTel buy By Bloomberg News Special to CNET NEWS.COM June 4, 1999, 8:25 a.m. ET MCI WorldCom's proposed acquisition of SkyTel Communications is being investigated by the Securities and Exchange Commission, according to reports. The Wall Street Journal reported the news, citing an unnamed "person familiar with the situation." The commission is investigating whether the company misled investors when it appeared to deny that it planned to buy SkyTel just three days before announcing the transaction. Some investors and analysts were upset at MCI WorldCom's apparent denial, especially after the company stood by a similar statement in January denying it would purchase Air Touch Communications, and MCI WorldCom executives declined comment, the Journal said. MCI WorldCom, the No. 2 U.S. long distance company, faces a class-action lawsuit alleging that some SkyTel shareholders lost money when MCI WorldCom last week appeared to deny plans to buy the No. 2 U.S. paging company. Copyright 1999, Bloomberg L.P. All Rights Reserved.