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Technology Stocks : Winstar Comm. (WCII)
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To: DubM who wrote (11849)3/8/2000 2:28:00 PM
From: DubM  Read Replies (1) of 12468
 
WinStar Chief Rouhana Says Company Has No Acquisitions Planned


New York, March 8 (Bloomberg) -- WinStar Communications Inc., which provides telephone and data services to businesses using wireless and fiber-optic technology, doesn't plan any acquisitions for now, Chief Executive William Rouhana said.

``I don't feel we really need to be an aggressive buyer of anything,' because the construction of our network is so far along, Rouhana said at a Credit Suisse First Boston conference in New York.

Rouhana also said he hasn't felt free to use WinStar's stock to make purchases because he believes it is undervalued. WinStar has bought two other companies with cash, though WinStar paid less than actual value for their assets because both were in bankruptcy, he said.

WinStar, based in New York, has partnerships with Microsoft Corp. and CBS Corp. to provide software and content to WinStar customers.

WinStar shares fell 3 1/16 to 53 1/4 in late-morning trading. They have more than doubled in the past year.

Mar/08/2000 11:28
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