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Technology Stocks : Excel Communications
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To: Rob S. who wrote (2265)10/12/1997 10:36:00 PM
From: Joe Jackson   of 2806
 
Rob,
I had a friend who went to the stockholders meeting in Dallas on Saturday. He talked with Kenny who was very positive and upbeat about the future. Here are some of the notes I took (note necessarily exact quotes)

1. The vote is in & Excel voted to acquire Telco, Telco Stock holders are having a meeting & a vote this weekend also.

2. The anticipated formal completion will be Tuesday 9:30 AM.

3. Kenny said it will permanently drive down the cost of LD. We will phase into Telco slowly, we will continue as a reseller where we will maintain access to alternate carriers such as WorldCom/MCIto insure our ability to expand as fast as we want to.

4. We could move 60% of our traffic today, but we are going to do it slowly instead over a period of time to insure we have no problems for our customers.

5. This aquisition will move us several years ahead of Kenny's game plan!

6. We have been in a required quiet period for the past four months because of the merger and it will be over Tuesday at 9:30AM.

7. Kenny & the rest have been unable to publicly talk about the forward outlook of Excel. That ends Tuesday and they are going to hit the road running with a 60 day roadshow, meeting with analyst etc to promote the new company and educate them on Excels future plans.

8. Excel is going to take a slow approach to getting into local service. Right now it is not as profitable to get into because of the politics and regulations but when the time is right (when it is profitable) we will be ready.

9. Sees international service as a big plus.

10. There has been some more short selling since the Telco deals was announced. He believes they will start getting squeezed out in the near future.

11. Doesn't think MCI will dump customers once WorldCom/MCI deal takes place but thinks that the deal will not be bad for Excel.

12. Telco's "Dial Around" will remain but Excel Reps will get commissions if one of their customers uses it.

13. When asked what he thought about the stock price he commented that two analyst had recently estimated the stock to be in the 36-38 range in the next twelve months and that he thought they were being conservative.
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