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  1. Technology
February 24, 1999


By CBR Staff Writer

MCI WorldCom Inc has completed, through its subsidiary UUNet Holdings Australia Pty Ltd, its $2.20 per share cash tender offer to acquire all the ordinary shares of Australian ISP OzEmail Ltd. By the close of the offer yesterday morning in New York, UUNet had acquired about 96% of the ordinary shares outstanding. UUNet Australia will make payment for the tendered shares on March 1. UUNet Australia also said it expects to announce on March 1 that it will exercise its right under the Australian Corporations Law to acquire by compulsory acquisition all OzEmail ordinary shares (including ADSs) still outstanding.

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