CAWS - Wireless Cable (New and Improved) Message Board

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Technology Stocks : CAWS - Wireless Cable (New and Improved)

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To: Chris Ellip who wrote (791)	12/6/1996 4:54:00 PM
From: Nitesh P. Patel	of 5812

CAI Wireless Systems Inc debt pummeled Friday December 6 2:25 PM EST NEW YORK, Dec 6 (Reuter) - Debt of U.S. wireless cable concern CAI Wireless Systems Inc toppled more than 20 points on Friday after Bell Atlantic Corp and Nynex Corp said they will re-evaluate their investment in the company, traders said. The debt traded down in steady increments from Thursday's close of 75 bid, 78 offer to a wide 50 bid, 60 offer market near mid-session. Commerce for the debt was moderate early in the session, but traders said little paper changed hands as the day dragged on indicating holders were still making bets on CAI. Bell Atlantic and NYNEX cited the disappointing results from CAI for offering video to homes spurred the reexamination of their strategy. The two Bells have invested $100 million in CAI, which plans to use microwave signals, beamed by line of sight to wall-mounted receivers, to deliver television signals. "This is a culmination of what we've been seeing for the past month and a half which is increasing evidence regional Bell companies were backing away from wireless cables as a technology," said Les Levi, telecom and media analyst at Merrill Lynch & Co Inc.

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