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Short Take: SkyTel shareholders approve MCI deal

Stockholders of paging service provider SkyTel Communications have approved MCI WorldCom's proposed $1.8 billion buyout of the company. The deal, under which SkyTel will become a wholly owned subsidiary of MCI WorldCom, is expected to close October 1. Although MCI will gain more than 1.7 million paging customers, critics suggest the company still needs a cellular phone offering to be competitive. Ongoing rumors suggest MCI is interested in acquiring Sprint's cellular business.

Stockholders of paging service provider SkyTel Communications have approved MCI WorldCom's proposed $1.8 billion buyout of the company. The deal, under which SkyTel will become a wholly owned subsidiary of MCI WorldCom, is expected to close October 1. Although MCI will gain more than 1.7 million paging customers, critics suggest the company still needs a cellular phone offering to be competitive. Ongoing rumors suggest MCI is interested in acquiring Sprint's cellular business.