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Technology Stocks : Advanced Radio Telecom (ARTT)
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To: transmission who wrote (510)3/24/1999 12:00:00 PM
From: GVTucker  Read Replies (2) of 1176
 
RE: Commco/Reardon selling

I doubt very seriously that any financing deal is contingent on Commco reducing its stake below 5%. It's highly unlikely that any financing source really cares what Commco's stake is, as long as it isn't above the 15% mark, which is a given.

Most likely scenario IMO is that Reardon is taking advantage of the current situation in ARTT stock. When you've got a large block and you want to sell it, you need to take advantage of situations where liquidity is at its best. The rumors surrounding ARTT concerning financing and takeovers have provided that liquidity, and Reardon took advantage. The thinking there was that, perhaps, they take half the stake off the table based upon the rumors, which also conveniently takes them below the 5% filing requirement. The rest they let ride, and if things don't work out, they still cashed out a decent amount. If things do work out, they've got plenty still.
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