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Strategies & Market Trends : Chi-X's Short Sale Portfolio

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To: Xpiderman who wrote (358)11/14/1997 12:27:00 AM
From: Pancho Villa  Read Replies (1) of 368
 
XZ: RE: MCIC WCOM arbitrage. Interesting idea! Jus need to be aware the deal may not be a sure thing. Look at what happened to the people who did a similar thing with BTY stock. (Of course they did not count on BTY being so stupid as to break a terrific deal just because MCIC was investing on local service.)

Have you taken a position yourself?

One possible scenario: deal breaks. Street thinks this is good for wcom (they are already stretching themselves too much) and MCIC price? well it may go up if GTE maintains bid. I sold half my position in MCICC at 38+ before the second WCOM offer was made. I am also long WCOM long (bought at 19 summer 96).

Any thoughts?
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