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Technology Stocks : Winstar Comm. (WCII)
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To: DubM who wrote (12415)4/11/2001 6:31:53 PM
From: Bernard Levy  Read Replies (2) of 12468
 
Dub, gauguin and others:

WCII will need to restructure, and the only way to invest in it is
through the debt if you can find a way of buying the converts.
This was a fine company operationally, but the telecom
markets have tilted way over in favor of debt holders versus
equity holders. I hope WCII can restructure and come back
with less debt and new equity formed by converting some
of the debt. If so, I will probably invest in it again (the business
plan is fine it was the confluence of a bad equity/debt balance
and a horrendous bear market that killed the company).

Bottom line: I see no hope for the current equity.

Regards,

Bernard Levy
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