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February 9, 1999


By CBR Staff Writer

MCI WorldCom Inc has extended its $322.8m takeover offer for Australian ISP OzEmail Ltd. The telecom giant’s $22 per ADR bid, being carried out through its UUNet subsidiary, was scheduled to close on Tuesday but has now been extended to February 24. As of the time of the extension, MCI WorldCom was in control of 94% of OzEmail’s shares, in a combination of those tendered and those already owned by UUNet. An original provision of the deal said that if 90% or more of the shares hadn’t been tendered by February 9, the offer would be withdrawn.

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