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Technology Stocks : NorthPoint Communications Holdings, Inc. (NPNT)
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To: Offshore who wrote (784)3/22/2001 7:23:54 PM
From: E_K_S  Read Replies (1) of 786
 
It looks like AT&T now owns the assets of North Point....
Thursday March 22, 7:13 pm Eastern Time
( biz.yahoo.com )
AT&T to buy assets of NorthPoint Commun for $135 mln

NEW YORK, March 22 (Reuters) - AT&T Corp. (NYSE:T - news), the No. 1 U.S. long-distance telephone and cable television company, said on Thursday a U.S. bankruptcy court has approved its acquisition of assets of high-speed Internet service provider NorthPoint Communications (Nasdaq:NPNTQ - news) for about $135 million.

The acquisition, subject to regulatory approval and other conditions, includes San Francisco-based NorthPoint's co-locations nationwide, certain network equipment, systems and support software and related assets. NorthPoint provides digital subscriber line (DSL) service, which provides high-speed Internet access over existing phone lines.

AT&T and NorthPoint said the deal should close within 60 days.

NorthPoint said the sale will include work force reductions and the imminent termination of its customers' network services.

Shares of AT&T closed down 49 cents to $21.83 on the New York Stock Exchange. The stock has ranged from $16.50 to $60.75 in the past year.
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Sold my North Point and bought more T. Hopefully, in the long run I will regain my loss from NorthPoint by holding T.

EKS
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