To: Jacalyn Deaner who wrote (1216 ) 6/14/1999 8:08:00 AM From: donkeyman Read Replies (2) | Respond to
Jacalyn: Put yourself in the position of CEO of x-stream (XSNI)and you had Lehman Brothers N.Y hired to work on your company for the Nasdaq including an IPO. I guess you would be quite proud knowing that you were the 1st. to offer free Internet in the UK. You would also be proud that out of 50-70 free Internet UK servers, you were in 3rd. position. You would have to be delighted reading from the Sunday Times yesterday that the top 5 UK free Internet servers could be in on a gold mine. You would have to be extremely excited to read your main competition, FreeServe, might come up with a market valuation of 2.5 billion pounds (Is that US$4 Billion??) knowing that x-stream has about 1/3 the subscribers of FreeServe. If they walk away with a valuation that high, what kind of valuation will Lehman Brothers and others put on x-stream? I've talked to the Canadian office and I've also talked to the UK office. I've been told they are in a "quiet period",work is going on, and they can't talk.!! So, therefore, if you were the CEO and a lovely lady called from Texas that you've heard of before on Silicon Investor and you know everything you say is being relayed to the masses, (she might even make the odd mistake in what you said), wouldn't you be extremely careful what you say? Wouldn't you tell Lehman Brothers - don't be talking to that crowd on the chat lines. What I read yesterday in the Sunday Times makes me pretty excited of where free Internet is going in the UK. They said to expect an "advertising boom". In the meantime, with all this excitement of that high potential valuation of FreeServe, if there were a few shares held within the company that's eligible to be sold on June 30 as you say, wouldn't you be crazy to sell them off with such an exciting free Internet business looming around the corner in Europe?
