NEWS FLASH::: BUSINESS WEEK MENTION
(REUTERS) Viatel<VYTL.O>seen as good bargain - Business Week
Viatel<VYTL.O>seen as good bargain - Business Week
NEW YORK, June 11 (Reuters) - When investors went bargain
hunting after April's stock market dip, Viatel Inc. <VYTL.O>
was bought heavily by Lehman Brothers and Credit Suisse First
Boston, according to the June 22 issue of Business Week.
Viatel provides long-distance services to small and
mid-size business, mainly in Europe. Investor George Soros owns
7.6 percent of the company and Fidelity owns 7.5 percent,
Business Week said.
Stephanie Comfort, an analyst with Morgan Stanley Dean
Witter, said she expects Viatel to have revenues of $128
million this year and $318 million next year.
However, Comfort said the company's earings per share will
be in the red through 2001 because of interest on its
high-yield debt. By 2002, Comfort expects Viatel to earn $2.68
per share.
((-- New York Newsdesk 212 859-1610, Fax 212 859-1717))
REUTERS
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