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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: Andrew H who wrote (11468)	7/15/1999 1:53:00 PM
From: vinh pham	Read Replies (2) \| Respond to of 30916

Andrew, i agree that by 2:3 dividend distribution HJ would only have 32.6% of NTOP, but he would still be a majority holder of the 27.6 million shares allocated to IDT. the main point is that it would still give HJ the controlling vote. BTW, the statement in the S1 filing is worded such that he may be deemed the beneficial owner of these 27.6 million shares, but so far he has disclaimed it. why? i suppose we'll have to stay tuned... from the S1 filing: (3) Howard S. Jonas, together with a number of entities formed for the benefit of charities and members of his family, owns shares of IDT's capital stock that enable him to vote more than 50% of IDT's capital stock. As a result, he may be deemed to be the beneficial owner of the shares of Net2Phone capital stock owned by IDT. Mr. Jonas disclaims beneficial ownership of these shares.