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Technology Stocks : Cable & Wireless, PLC (CWP)
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To: Ken Sammut who wrote (20)3/17/1998 8:01:00 AM
From: Ken Sammut  Read Replies (1) of 22
 
Tuesday March 17, 5:37 am Eastern Time

RESEARCH ALERT-Lehman ups Cable & Wireless
LONDON, March 17 (Reuters) - Telecoms group Cable & Wireless Plc was
raised to ''outperform'' from ''neutral'' at Lehman Brothers, the
investment bank said on Tuesday.
In a research note, Lehman analysts said C&W shares were a potential
beneficiary of consolidation trends in the industry and advised
investors to switch out of British Telecommunications Plc(quote from
Yahoo! UK & Ireland: BT.L).

Upgrading their sum-of-parts valuation on the stock to 800p from 740p,
Lehman analysts said that value reflected the fundamentals of the stock
alone and did not reflect the likely level of any takeover bid.

A U.S. bid would become more feasible from a U.S. regulatory point of
view when a Hong Kong licence agreement was signed later this month,
expected on March 20, Lehman analysts said. C&W holds a majority stake
in Hongkong Telecommunications (0008.HK).

C&W shares traded 3-1/2p higher at 713-1/2 by 1010 GMT.
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