Albany, N.Y. -- CAI Wireless Systems Inc. has called a
special shareholder meeting for Aug. 31 at 10 a.m. in Hartford, Conn., to approve the
merger of a wholly owned subsidiary of MCI Worldcom Inc. with CAI.
MCI agreed in April to purchase more than 60 percent of
CAI's outstanding stock at $28 per share, a deal valued at about $172 million. CAI will
also hold a second shareholder meeting that day at 11 a.m. to consider an MCI proposal
remove CAI's board of directors and replace it with MCI senior vice president of corporate
development Charles Cannada and president and CEO Bernard Ebbers.
The second meeting will take place without regard to the
first special meeting.