FORM 3
U.S. SECURITIES AND EXCHANGE COMMISSION _____________________
WASHINGTON, D.C. 20549 | OMB APPROVAL |
INITIAL STATEMENT OF |_____________________|
BENEFICIAL OWNERSHIP OF SECURITIES |OMB NUMBER: 3235-0104|
|EXPIRES: |
| SEPTEMBER 30, 1998 |
Filed pursuant to Section 16(a) of the |ESTIMATED AVERAGE |
Securities Exchange Act of 1934, |BURDEN HOURS |
Section 17(a) of the Public Utility |PER RESPONSE 0.5 |
Holding Company Act of 1935 |_____________________|
or Section 30(f) of the Investment
Company Act of 1940
__________________________________________________________________________
1. Name and Address of Reporting Person
WorldCom, Inc.
__________________________________________________________________________
(Last) (First) (Middle)
515 East Amite Street
__________________________________________________________________________
(Street)
Jackson, Mississippi 39201-2702
__________________________________________________________________________
(City) (State) (Zip)
__________________________________________________________________________
2. Date of Event Requiring Statement (Month/Day/Year)
04/27/98
__________________________________________________________________________
3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY)
__________________________________________________________________________
4. Issuer Name and Ticker or Trading Symbol
Able Telcom Holding Corp. (ABTE)
__________________________________________________________________________
5. RELATIONSHIP OF REPORTING PERSON(S) TO ISSUER (CHECK ALL APPLICABLE)
( ) DIRECTOR
( X) 10% OWNER
( ) OFFICER (GIVE TITLE BELOW)
( ) OTHER (SPECIFY TITLE BELOW)
_____________________________________
__________________________________________________________________________
6. IF AMENDMENT, DATE OF ORIGINAL (MONTH/DAY/YEAR)
__________________________________________________________________________
7. INDIVIDUAL OR JOINT/GROUP FILING (CHECK APPLICABLE LINE)
___FORM FILED BY ONE REPORTING PERSON
_X__FORM FILED BY MORE THAN ONE REPORTING PERSON
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TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
__________________________________________________________________________
|1. TITLE OF |2. AMOUNT OF |3. OWNERSHIP |4. NATURE OF INDIRECT |
| SECURITY | SECURITIES | FORM DIRECT | BENEFICIAL OWNERSHIP|
| (INSTR. 4) | BENEFICIALLY| DIRECT (D) | (INSTR. 5) |
| | OWNED | OR INDIRECT | |
| | (INSTR. 4) | (I) (INSTR. | |
| | | 5) | |
|_________________|_______________|_______________|_______________________|
[TYPE ENTRIES HERE]
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TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security (Instr. 4)
Option to Purchase Common Stock
___________________________________________________________________________
2. Date Exercisable and Expiration Date (Month/Day/Year)
(1) (1) (2)
________________________ _________________________
Date Exercisable Expiration Date
___________________________________________________________________________
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)
Common Stock, par value $.0001 per share 2,000,000 (3)
________________________________ _______________________________
Title Amount of Number of Shares
___________________________________________________________________________
4. Conversion or Exercise Price of Derivative Security
$ 7 per share
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5. Ownership Form of Derivative Security: Direct(D) or Indirect(I)
(Instr. 5)
(I)
___________________________________________________________________________
6. Nature of Indirect Beneficial Ownership (Instr. 5)
(1)
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EXPLANATION OF RESPONSES:
see attached footnotes (1), (2) and (3).
WORLDCOM, INC. May 7, 1998
_____________________________________ ________________
** SIGNATURE OF REPORTING PERSON DATE
By: /s/ Charles T. Cannada
----------------------
Name: Charles T. Cannada
Title: Senior Vice President
** INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS.
SEE 18 U.S.C. 1001 AND 15 U.S.C. 78FF(A).
NOTE: FILE THREE COPIES OF THIS FORM, ONE OF WHICH MUST BE MANUALLY
SIGNED. IF SPACE PROVIDED IS INSUFFICIENT, SEE INSTRUCTION 6 FOR
PROCEDURE
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOR REQUIRED TO RESPOND UNLESS THE FORM
DISPLAYS A CURRENTLY VALID OMB NUMBER.
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1. Name and Address of Reporting Person: WorldCom, Inc.
515 East Amite Street
Jackson, Mississippi
39201-2701
2. Date of Event Requiring Statement: 04/27/98
4. Issuer Name and Ticker or Trading Symbol: Able Telcom Holding Corp.
(ABTE)
(1) Pursuant to the Agreement and Plan of Merger, dated as of April 26,
1998 (the "Merger Agreement"), by and among MFS Acquisition Corporation
("Buyer"), Able Telcom Holding Corp. ("Issuer"), MFS Network Technologies,
Inc. ("MFS Network") and MFS Communications Company, Inc. ("MFS"), as more
fully described in a Schedule 13D filed by WorldCom, Inc. ("WorldCom") and
MFS with the Securities and Exchange Commission dated May 7, 1998, MFS was
granted an option to purchase shares of common stock of the Issuer
("Issuer Common Stock") at $7.00 per share (the "Option"). MFS is a wholly
owned subsidiary of WorldCom.
The Option may be exercised by MFS in whole or in part during the six
moth period commencing with the earlier to occur (i) the merger of MFS
Network with and into the Buyer or (ii) termination of the Merger
Agreement.
(2) Pursuant to the Merger Agreement the Option will terminate at 5:00 PM,
Eastern time, on the date six months following the first day of the
commencement of the exercise period.
(3) In accordance with the Merger Agreement, MFS may exercise some or all
of the Option on a "cashless" basis, pursuant to which MFS receives shares
of Issuer Common Stock with a "market value" equal to the aggregate
"spread" for the shares as to which the Option is being exercised. MFS
will exercise the Option on a "cashless" basis rather than for cash to the
extent necessary to ensure that the actual number of shares of Issuer
Common Stock issued to MFS does not exceed 1,817,941, which is the maximum
number of shares of Issuer Common Stock that may be issued by Issuer to
MFS. For such purposes, the "market value" per share will equal the
average of the closing "bid" and "asked" prices for Issuer Common Stock as
reported by NASDAQ over the ten trading day period preceding the day of
exercise and the "spread" per share will equal the excess, if any, of the
"market value" over $7.00
JOINT FILER INFORMATION
Name: MFS Communications Company, Inc.
Address of Joint Filer: 11808 Miracle Hills Drive
Omaha, Nebraska 68154
Designated Filer: WorldCom, Inc.
Date of Event Requiring Statement: 04/27/98
Issuer Name and Ticker or Trading Symbol: Able Telcom Holding Corp.
("ABTE")
Signature: /s/ Charles T. Cannada
-------------------------
Name: Charles T. Cannada
Title: Director
