Tulipomania Blowoff Contest: Why and When will it end? Message Board

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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?

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To: Mad2 who wrote (3026)	8/27/2000 2:00:28 PM
From: RockyBalboa	of 3543

European Telephone bubble still growing: Sunday August 27, 1:21 pm Eastern Time D.Telekom to buy Powertel for $5.75 bln-paper FRANKFURT, Aug 27 (Reuters) - Deutsche Telekom AG was reported on Sunday to be close to completing talks to buy U.S. cellphone company Powertel (NasdaqNM:PTEL - news) for $5.75 billion in the second big U.S. acquisition following its $45.7 billion purchase of VoiceStream Wireless Corp. (NasdaqNM:VSTR - news) announced in July. Financial Times Deutschland reported that negotiations on the deal had entered their final phase and a 100 percent takeover was likely to be announced this week. Telekom could not immediately be reached for comment. The report, which did not name any sources, said Powertel, like VoiceStream, was one of the few U.S. phone companies that operated the GSM standard used in Europe and therefore fitted in well with Telekom's cellphone strategy. The report said Powertel, based in West Point, Ga., operates a cellphone netowrk in the Southeast of the United States where Voicestream does not have its own coverage. It said Powertel had 727,000 mobile phone customers. It is listed on the Nasdaq and has a market capitalisation of about $2.6 billion, the report said. FT Deutschland released the report ahead of publication in Monday's edition.

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