WRDP, found this while looking for news on CS. WDRP is apparently a potential takeover target. Closed at 9 1/4. For what it's worth.
RVINE, CALIF. (May 20) BUSINESS WIRE -May 20, 1999--IBC (www.Ibchannel.com) Thursday reported that
according to Bloomberg, analysts said shares of WorldPort Communications Inc. (Nasdaq: WRDP) climbed as
much as 27 percent this week amid speculation that an equity investment or takeover is imminent.
Helping to fuel the speculation was Global Crossing Ltd's (Nasdaq: GBLX) agreement earlier this week to merge
with US West (NYSE: USW).
WorldPort has connections to France, Germany, Belgium and the United Kingdom through an agreement with
Viatel Inc. (Nasdaq: VYTL). WorldPort also buys capacity in the United States from No. 5 long distance company
Frontier Corp. (NYSE: FRO), which Global Crossing has agreed to buy for $12.5 Billion.
According to Sands Brothers analyst Alan Feldman, "WorldPort is a premier takeover target." Feldman currently
rates WorldPort a buy with a $20 target and said he believes the company could be sold to likely suitors that may
be looking to enter or expand their presence in Europe including IXC (Nasdaq: IIXC), ICG Communications
(Nasdaq: ICGX), Intermedia Communications (Nasdaq: ICIX), STAR Telecommunications (Nasdaq: STRX), and
Global TeleSystems Group Inc. (Nasdaq: GTSG).
In The Netherlands, WorldPort serves as the backbone for @Home (Nasdaq: ATHM) Internet traffic and carried 195
million minutes of ISP traffic in 3Q98. WorldPort Communications is The Next Generation Carrier's Carrier
boasting a Lucent (NYSE: LU) designed fiber optic network which provides international long distance services to
the Americas and Europe.
The company's focus is on providing interconnectivity and high capacity bandwidth products for voice, data, video
and Internet traffic to long distance carriers, distributors and Internet service providers. Additionally, WorldPort is
investing in the next generation of high capacity bandwidth through its development of KennisNet in the
eNtherlands in partnership with Internet2 consortium.
Internet2 is a consortium of leading U.S. universities and corporations who are dedicated to developing the next
generation of Internet technologies. Internet2 Corporate Partners include Qwest Communications (Nasdaq:
QWST), 3Com (Nasdaq: COMS), Advanced Network & Services Inc., AT&T (NYSE: T), Cabletron Systems
(NYSE: CS), Cisco (Nasdaq: CSCO), FORE Systems (Nasdaq: FORE), IBM (NYSE: IBM), Lucent Technologies
(NYSE: LU), MCI Corporation's (Nasdaq: WCOM), Newbridge Networks (NYSE: NN), Nortel Networks, and
StarBurst Communications.
For more information, see ibchannel.com.
Note: IBC has received 75,000 WRDP shares as compensation for advertising. IBC or its affiliates may buy or sell
shares in these companies. Read the disclaimer at IBC's site for more information regarding the relationship
between IBC and its clients. Except for historical information, all of the statements, expectations and assumptions
contained in the foregoing are forward-looking statements. The realization of any or all of these expectations is
subject to a number of risks and uncertainties and it is possible that the assumptions made by management may
not materialize.
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