Global TeleSystems Group (GTS) Message Board

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Technology Stocks : Global TeleSystems Group (GTS)

GTS 35.99

+1.0%

Jan 31 4:00 PM EST

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To: Tavros who wrote (36)	6/21/1999 9:38:00 AM
From: Just4fun2	of 73

I'm still here :) This is from briefing.com on Friday 6/18: Global TeleSystems Group (GTSG) 87 5/8 +8 5/8: Investors following billionaire George Soros' lead into shares of European telecom company. Global TeleSystems is a play on broadband fiber services and European telecom deregulation. Since the company came public in February of 1998 at $20 per share, the stock has ascended 338%. Mr. Soros was an early investor in the issue, and through various funds owns more than 9% of the company. Today, Global TeleSystems is being dialed up by Dresdner Kleinwort Benson Securities, which started coverage of the stock with a "buy" rating and a 12-month target of $110 per share. Based on the size of the trades being crossed, it would appear that institutional buying is behind much of the move... Global TeleSystems currently serves customers in 20 European countries and operates a broadband network with points of presence in 21 cities in Europe. The company has recently been positioning itself in various European markets through acquisitions, buying Esprit Telecom Group for for $665 mln in stock and NetSource Europe ASA for an estimated $119.95 mln in cash and stock. GTSG also paid more than $420 million for a 80% stake in French telecom company Omnicom... Global TeleSystems is currently involved in a joint venture with FLAG Telecom to build and operate the world's first transoceanic dual cablesystem, providing broadband capacity between cities in Europe and North America. In late May, the company introduced ISDN services throughout the United Kingdom, making it one of the only telecommunications companies in the U.K. offering full national ISDN coverage... Stock has traded up 11% today, on volume of 6.4 mln share, or 4 times average daily turnover. Of the six analysts following GTSG, five rate the issue a "strong buy" and one a "buy." Always nice to know which stocks the institutional money is chasing. - DS

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