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Technology Stocks : Softbank Group Corp

SFTBY 76.93

-5.1%

3:59 PM EST

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To: Taikun who wrote (1364)	8/18/1999 9:52:00 PM
From: Edwin S. Fujinaka	Read Replies (1) of 6018

Actually, I wasn't really wishing for Softbank to list on an exchange here in the United States. I just think the pressure to do so has been building and it would expand the customer base quite a bit for the stock. Frankly, I am still in a buying mode and I am afraid that I missed a good opportunity at around $220. I have a feeling that we are not going to see $200 again. The question is: If Softbank does list a trading vehicle on a US Exchange, what form should it take to optimize shareholder value? Remember Lehman's estimate that Softbank ought to trade at 100,000 Yen if it were valued on the same basis as CMGI. That is three times higher than today. I actually think that Softbank is a much better Company than CMGI and should command a higher multiple than CMGI. Having said that, I suspect that CMGI's multiple (to whatever) may be too high even at these reduced levels. This is not to criticize the Company (CMGI) it is merely to suggest that all of the Internet Stocks are still pretty pricey with the possible exception of Softbank, of course. <G>.

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