diff --git a/dlls/ole32/compobj.c b/dlls/ole32/compobj.c
index 1d9b9431831..da466c42edb 100644
--- a/dlls/ole32/compobj.c
+++ b/dlls/ole32/compobj.c
@@ -4427,6 +4427,7 @@ HRESULT WINAPI CoWaitForMultipleHandles(DWORD dwFlags, DWORD dwTimeout,
     DWORD start_time = GetTickCount();
     APARTMENT *apt = COM_CurrentApt();
     BOOL message_loop = apt && !apt->multi_threaded;
+    BOOL check_apc = (dwFlags & COWAIT_ALERTABLE) != 0;
 
     TRACE("(0x%08x, 0x%08x, %d, %p, %p)\n", dwFlags, dwTimeout, cHandles,
         pHandles, lpdwindex);
@@ -4460,9 +4461,19 @@ HRESULT WINAPI CoWaitForMultipleHandles(DWORD dwFlags, DWORD dwTimeout,
 
             TRACE("waiting for rpc completion or window message\n");
 
-            res = MsgWaitForMultipleObjectsEx(cHandles, pHandles,
-                (dwTimeout == INFINITE) ? INFINITE : start_time + dwTimeout - now,
-                QS_SENDMESSAGE | QS_ALLPOSTMESSAGE | QS_PAINT, wait_flags);
+            res = WAIT_TIMEOUT;
+
+            if (check_apc)
+            {
+                res = WaitForMultipleObjectsEx(cHandles, pHandles,
+                    (dwFlags & COWAIT_WAITALL) != 0, 0, TRUE);
+                check_apc = FALSE;
+            }
+
+            if (res == WAIT_TIMEOUT)
+                res = MsgWaitForMultipleObjectsEx(cHandles, pHandles,
+                    (dwTimeout == INFINITE) ? INFINITE : start_time + dwTimeout - now,
+                    QS_SENDMESSAGE | QS_ALLPOSTMESSAGE | QS_PAINT, wait_flags);
 
             if (res == WAIT_OBJECT_0 + cHandles)  /* messages available */
             {
diff --git a/dlls/ole32/tests/compobj.c b/dlls/ole32/tests/compobj.c
index 38b21c9eb6e..eed5ac8f978 100644
--- a/dlls/ole32/tests/compobj.c
+++ b/dlls/ole32/tests/compobj.c
@@ -2241,7 +2241,6 @@ static void test_CoWaitForMultipleHandles(void)
     ok(hr == S_OK, "expected S_OK, got 0x%08x\n", hr);
     ok(index == WAIT_IO_COMPLETION, "expected index WAIT_IO_COMPLETION, got %u\n", index);
     success = PeekMessageA(&msg, hWnd, WM_DDE_FIRST, WM_DDE_FIRST, PM_REMOVE);
-    todo_wine
     ok(success, "CoWaitForMultipleHandles unexpectedly pumped messages\n");
 
     /* test with COWAIT_INPUTAVAILABLE (semaphores are still locked) */