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Technology Stocks : Qwest Communications (Q) (formerly QWST) -- Ignore unavailable to you. Want to Upgrade?

To: David Lawrence who wrote (3973)	6/13/1999 6:32:00 PM
From: Nick	Respond to of 6846

87 BILLION. wow! I'm not sure how the street will react, but Nacchio hasn't steered us wrong yet.... Qwest Communications Offers to Acquire U S West and Frontier In Plan to Create $87 Billion Worldwide Communications Company U S WEST Shareholders to Receive Up to $80.00 Per Share in Qwest Common Stock Frontier Shareholders to Receive Up to $75.00 Per Share, Including $20.00 in Cash and Up to $55.00 Per Share in Qwest Common Stock Two Transactions Valued at $55 Billion in Cash and Equity and $11.4 Billion in Assumed Debt New Company Will Deliver Wide Range of Broadband Applications and Services, Benefit 31 Million Customers, Spur Local Competition Both Proposals are Strategically and Financially Superior to Pending U S WEST and Frontier Transactions

To: David Lawrence who wrote (3973)	6/13/1999 6:41:00 PM
From: Tony Wang	Read Replies (1) \| Respond to of 6846

I'd be out of QWST real quick and into GBLX with the funds. The Wall St short position on GBLX is huge. As of 5-10 it was 11 million shares. Add the arbitrage shorts developed on the announcement of the GBLX/USW merger, the short ratio to average daily volume is at least 7 to 1, if not much more. Which means if the shorts decided to cover there ain't enough shares in the average trading day for them to buy with out moving the price up substantially. Plus, GBLX gets $850 mill as a break up fee, plus a guranteed bid at $62.50 for 9.5% of their shares from USW. More the GBLX board were unhappy with the selloff in their stock, so it does not look like they will be bidding higher. I hate to be the guy who is short GBLX on monday.