PSIX up 26.5%, Takeover(?) Message Board

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Technology Stocks : PSIX up 26.5%, Takeover(?)

PSIX 52.15

+1.3%

Nov 21 9:30 AM EST

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To: Curtis Gruber who wrote (5541)	2/15/2001 7:55:37 AM
From: Souze	Read Replies (1) of 5650

Curtis, You've certainly been carrying this thread alone. I haven't much to add, except a couple small things. In the Financial Times article, I found it interesting that the highest amount bid so far was disclosed and that the bidders were not. It left me with the impression of an auctioneer seeking more bids. One would think the GS could contact all the qualified bidders, but perhaps not. One thing that may be keeping the bid down is that PSInet is more likely requiring cash payment, no stock. Next is just a question: how much time does PSINet need to become profitable? If the highest bids for the asset(s) on the block don't total enough to buy that much time, then I would expect them to seek bankruptcy protection. Then again, that's the ultimate bargaining tool: if the bidders don't bid enough, they'll have to wait and bid to get it from the court. I watch big (>10k shares) block trades. It looks to me that big money has been selling PSIX for weeks, and that observation has bothered me. But I'm still holding my shares.

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