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Technology Stocks : Qwest Communications (Q) (formerly QWST)
Q 79.24+1.6%Nov 26 3:59 PM EST
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To: mfgrep who wrote (4048)6/14/1999 4:49:00 PM
From: Scotsman  Read Replies (2) of 6846
 
Yep, a really rough day today. But overall not to be un-expected, except that I also did not think it would fall to these levels.

I wonder if indeed this is indeed a play to squeeze GBLX. I think Qwest sees GBLX as their major competitor of the future. They have made a bid on the two things that make it so. Thus they have now placed GBLX in a tough position. If GBLX wishes to be a world class competitor they will have to have at least FRO, and USW would be nice. So the theory goes they will have to anti up some more money or stock. This puts them in a bad position for future growth and somewhat hobbles them.

If Qwest succeeds in getting FRO, great. But I think they want USW more. If they don't get either, their bid gets rejected and the stock climbs back up. I think they will probably succeed in either getting USW or just driving the price up and weakening GBLX.

But this may have been prior to the 10 point drop today. This has hurt Qwest's offer so it may not work.
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