TELECOMMUNICATIONS

* CAI Wireless Systems Inc. said it completed an agreement to be acquired by MCI WorldCom Inc. at a price of $476 million--17% higher than first announced. The revised deal provides for CAI holders to receive $28 a share in cash, up from the $24 a share WorldCom offered in the tentative deal announced 10 days ago. The wireless licenses controlled by CAI Wireless will allow MCI WorldCom to reach customers’ homes or businesses without going through the Baby Bells’ local phone networks.