GTE Message Board - Msg: 2645300

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Technology Stocks : GTE

GTE 4.315

+5.5%

Nov 7 3:59 PM EST

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To: Starwalt who wrote (445)	11/5/1997 2:17:00 PM
From: David Klein	Read Replies (2) of 671

To all: Part of an article in Forbes written by R.S. Salomon Jr. Here are a couple of quality stocks I consider reasonably priced: GTE (43) and PPG Industries (57). Robert Allen, retiring chief executive of AT&T, has taken a lot of heat for his poor performance in enhancing shareholder value. Charles Lee, chief executive of GTE, has produced even poorer returns for shareholders than Allen. Despite this record, I like GTE at its present price. With the company's recent all-cash bid for MCI, GTE's shares have fallen precipitously, eliminating the premium that had previously been built in as a result of a rumored takeover by AT&T or British Telecommunications. If it succeeds in its bid for MCI, GTE will be in a favorable long-term position as a fully integrated telecommunications company. If it fails-which in my view is more likely, given the amount of debt required to consummate the deal-the stock will again likely be in play. Either way, it's a win/win situation.

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