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Technology Stocks : Charter Communications (CHTR)
CHTR 210.39-4.2%3:59 PM EST
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To: Sarkie who wrote (1873)2/22/2000 11:36:00 PM
From: silversoldier a/k/a SI Sy  Read Replies (2) of 2437
 
Hi Sarkie. See RB Posts Nos.4540 and 4544. The former links to an Insider Trader Report showing that, today, institutions hold 44.6% of CHTR common. Obviously that percentage has positive indications for CHTR.

The latter Post may be more interesting, albeit the SEC filing it references and links to is not entirely clear. It seems that, on 2/22/00, pursuant to Sec.13d-1(c) TCID of Michigan and TCI Bresnan LLC, both c/o AT&T Broadband acquired, beneficially, 15.1+ million shares equal to 6.4% and 9.1- million shares equal to 3.9%, respectively, of CHTR common Class A. The date of the event was 2/14/00. The text indicates that on 2/14 under an exchange agreement (possibly the exchange of assets announced about 2 months ago) the filers obtained the beneficial interest. Reference is made to preferred shares in what may be a CHTR subsidiary which could be converted to CHTR common in order to prevent dilution. I am not certain whether the filing means that the conversion has taken place or if the beneficial interest merely indicates that the right to convert exists. If the former, it means that an 800 pound gorilla competitor has taken a sizable stake in CHTR. If the latter, it may signify nothing more than an amplification of the terms of the exchange agreement and a technical filing required by SEC rules. Comments welcomed. Perhaps the Market will comment tomorrow.
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