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Technology Stocks : WCOM
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To: John F. Dowd who wrote (5090)10/1/1999 11:53:00 AM
From: MGV  Read Replies (1) of 11568
 
What is the consensus for a 1:1 swap of WCOM for FON here? Of course the risk is the deal does not go through. The response is that WCOM's recurring jig around the various wireless plays suggests it is serious about buying wireless and buying it soon. Second, in the event WCOM does not buy FON, FON is likely to be taken out by someone else - though maybe not before a gap down if WCOM bows out before someone else steps in. Third, there is the potential for a bidding battle for FON once someone starts the bidding. Fourth, I have heard that WCOM could pay as high as $80ish and still not violate its expressed guidelines concerning a dilutive wireless acquisition.

Clearly, you don't even consider this if you don't believe wireless will be a must have and WCOM thinks it will be a must have. I am long WCOM and will remain so - the issue isnt about giving up on WCOM. I'm vetting the idea (not that it is a unique one - witness the FON rise and the WCOM fall over the past 2 weeks) and sincerely would like thoughts opposing the swap.
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