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Strategies & Market Trends : Temp. Home of Cooperative Group-Trading
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To: Tom Hua who wrote (307)6/21/1999 2:00:00 PM
From: Rajiv  Read Replies (2) of 790
 
<MCOM>

Vulcan ventures and MCI Worldcom are getting 87% for 600 million. The press release mentions that they are buying preferred stock at $10/share. The exact conversion ratio of preferred stock to common stock has not been given.

MCOM has 19 million shares outstanding

An approximate estimate for the # of common shares which they can convert to
= (19/13)*87 = 127 MM shares
which amounts to around $4.75/share. This is at a major discount to the stock price..

I think the Paul Allen and WCOM names are good enough for a major pop.
Not short yet. Might play it at the open tomorrow for a point or two.

I got some BRKT at an average of 17/share

Regards.
Rajiv
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