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Technology Stocks : WCOM
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To: Frank A. Coluccio who wrote (2498)5/28/1998 10:48:00 AM
From: SteveG  Read Replies (2) of 11568
 
Hey Frank-

Fwiw, Grubman called this yesterday pre-opening. (though he didn't get CWZ, and he estimated $600MM.)

He's not in print this morning (yet), but from yesterday's analysis, we see he is very favorable to such a divestiture:

MCI-Internet has a run rate of $300MM, $120MM wholesale and $180MM retail. The interest on (or debt reduction of) $600MM he estimated would exceed the pretax income from the internet service. Plus, MCI-Internet is growing more slowly than the balance of the WCOM-MCIC's business.

I'm making the rounds, but Grubman is arguably the research axe on this stock.

Steve
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