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Thursday April 8, 8:10 pm Eastern Time
e.spire talked about as a takeover
target-Biz Week
NEW YORK, April 8 (Reuters) - e.spire Communications Inc
(Nasdaq:ESPI - news), a local telephone carrier, could be a
takeover target given its depressed stock valuation, Business
Week reported in its April 19 issue.
Quoting Frank Murphy of First Union Capital Markets, Business Week said that though a deal is
not imminent, the stock's current valuation has been so discounted that its potential as a takeover
target has become justifiable.
Topping the list of companies rumored to be interested in buying e.spire is Qwest Communications
International Inc (Nasdaq:QWST - news), which builds fiber-optic systems and provides Internet
and multimedia services.
Other contenders could include AT&T Corp (NYSE:T - news), MCI WorldCom Inc.
(Nasdaq:WCOM - news), and foreign carriers as British Telecom PLC (quote from Yahoo! UK &
Ireland: BT.L) and Cable & Wireless PLC (quote from Yahoo! UK & Ireland: CW.L). MCI already has
''preferred local provider'' links with e.spire in certain markets, Business Week said.
Industry experts also regard the company as an undervalued backdoor entry to the Internet, the
report said.
Meanwhile, its stock has been on an upswing since February, and has reached 11 from 4-1/2. Still,
its way off its 52-week high of 23 reached on July 8, the report said.
More Quotes
and News:
AT&T Corp (NYSE:T - news)
e.spire Communications Inc (Nasdaq:ESPI - news)
MCI WorldCom Inc (Nasdaq:WCOM - news)
QWest Communications International Inc (Nasdaq:QWST - news)
Related News Categories: options, publishing, telecom, US Market News
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