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Technology Stocks : UCOMA UnitedGlobalCom
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To: jjs_ynot who wrote (95)2/7/1999 8:13:00 PM
From: steve host  Read Replies (1) of 489
 
Dave I know it is beyond you to read posts from the "little people" from yahoo but maybe you should, you may learn some interesting things. Here is a recent (a day or two ago) post that I found very interesting from someone who seems to know the management. To save you the trouble of finding the way here it is: (Good luck in the short).

I don't know what their valuation scheme is but I know that they are value investors and that they are proud of their equity and willing to defend it when necessary. When Phillips NV decided to exit UPC in early 1997 (a blessing in disguise), UIHIA knew then that the stock was grossly undervalued and they levered up not only to buy back Phillps' 50% interest in UPC but also the UIHIA stock that Phillips held (thus the current 3MM shares of treasury stock).

I too, believe that the wild card is the other operating subs. Consider this, UIHIA has the option to expand its other subs through asset purchases using UIHIA stock. Once the franchise is in place (like UPC), UIHIA then conducts another secondary offering at the sub level to finance the resulting system expansion, retaining a controlling interest in the sub. The profit potential at the UIHIA level is mindboggling.

UIHIA is dripping with value sources. For instance, are you aware that about a year ago, UIHIA obtained a $178MM judgement in federal district court against Hong Kong based Wharf Holdings? Wharf appealed at the appellate level and posted a cash bond that now represents another $4+ per share? Valuing UIHIA is real tough at this point which is why I am long this stock. The market will eventually figure it out and start valuing it more fully over time. I am a patient sort and plan to wait this one out.
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