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Technology Stocks : Frontier - FRO
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To: 4-UR-Eyes-Only who wrote (29)5/5/1997 12:37:00 AM
From: Sjp   of 245
 
Well, the shareholder meeting on Friday did not have the outcome I expected in that the CEO is still in. However, he announced about 10 days ago that he is going to hire a President so that may have saved his tail.

I think the possibility of one of the above mergers is reasonable and possibly GTE. GTE is apparently pretty unhappy with their reseller arrangement with WorldCom. A very reasonable buyout price, I believe,
is $30+. Remember, this company was trading at around $30 about six months with no takeover or merger rumors. Word on the street was that the company would not take less that $42-45 back then. If they can get their earnings back up over the next 2Q's (and I think they can), this stock should be back up in that $30 neighborhood.

This is a solid 98 year old company. Downside risk is pretty limited in my very humble opinion and you gotta' like that dividend. Also, keep in mind that the high dividend relates to the fact that this used to be a rather boring utility stock back when it was just a local phone company called Rochester Tel (New York). It was a rather safe, boring, utility with a solid dividend and a lot of little old ladies buying it--then it got into long distance. I wish I had more cash to buy more right now.

Take a solid look at this one. Sjp.
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