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Technology Stocks : Westell WSTL

WSTL 5.550

-2.6%

3:55 PM EST

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To: Anthony Tsai who wrote (19916)	8/8/2000 8:33:29 AM
From: Emile Vidrine	Read Replies (1) of 21342

Will the NorthPoint/Verizon deal mean more ADSL business for Wstl? Tuesday August 8 7:38 AM ET Verizon, NorthPoint to Combine DSL Businesses NEW YORK (Reuters) - Local telephone company Verizon Communications (NYSE:VZ - news) said on Tuesday it would acquire a controlling stake in NorthPoint Communications Group Inc. (NasdaqNM:NPNT - news) for $800 million and would merge the digital subscriber line (DSL) businesses of the two companies. The ``new'' NorthPoint, 55 percent-owned by Verizon, will include Verizon's DSL business and its high-speed network assets. The deal will allow the companies to accelerate the expansion of DSL services nationwide. Of the cash, $450 million will be used to fund the new NorthPoint's capital expenditures and operations, and $350 million will go to current NorthPoint shareholders. The shareholders will receive about $2.50 cash per share. NorthPoint shareholders will receive one share in the ''new'' NorthPoint for each share held as of the closing date. Verizon will own 55 percent of the company, while existing NorthPoint shareholders will own 45 percent. The new NorthPoint will trade as a separate public company. The combined operations of NorthPoint and Verizon expect to begin 2001 with more than 600,000 DSL lines; wholesale relationships with companies such as Verizon Online, America Online Inc. (NYSE:AOL - news) and WorldCom Inc.'s (NasdaqNM:WCOM - news) UUNET business.

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