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Technology Stocks : AT&T -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (2766)	8/14/1999 5:52:00 PM
From: BrooklynDave	Read Replies (1) \| Respond to of 4298

ALL'S WELL THAT ENDS WELL? AT&T stock slump may spur new MediaOne deal By Bloomberg News Special to CNET News.com August 11, 1999, 5:50 p.m. PT URL: news.com AT&T's shares fell to an eight-month low, raising the possibility that the largest U.S. phone company will have to increase what it agreed to pay for No. 4 cable-television company MediaOne Group. In April, AT&T said it would pay $85 a share for MediaOne, or $62.5 billion in cash and stock, based on AT&T per-share price of $57. If AT&T shares fell to $51.30 each, AT&T said it would pay more cash to maintain the $85 price. AT&T's fell 0.5 to 48.4375 in trading today, after earlier dropping to 48.375. That is the lowest since December 17, and shares are down about 25 percent since hitting a record high on February 3. MediaOne fell 0.75 to 67.0625. Englewood, Colorado-based MediaOne doesn't have the option to renegotiate the agreement, and AT&T says it isn't required to boost the stock and cash offer. Some analysts said they don't expect the drop AT&T's share price to jeopardize the purchase. "I don't know of any particularly great alternatives for MediaOne shareholders right now," said Anna-Maria Kovacs, an analyst at Janney Montgomery Scott. "The stock could be way up again." The acquisition, which will make AT&T the largest U.S. cable TV company, is expected to close in the first quarter 2000. "We believe MediaOne deal is secure and stock price fluctuation is a point-and-time issue," said Eileen Connolly, a spokeswoman at AT&T. "We're confidant investors will recognize the vision of AT&T strategy and the stock price will represent that." MediaOne shareholders are expected to vote on the sale in around October. At $85 per share, MediaOne holders are getting a premium of about 26 percent premium over today's price. Copyright 1999, Bloomberg L.P. All Rights Reserved

To: American Spirit who wrote (2766)	8/14/1999 8:27:00 PM
From: pass pass	Read Replies (1) \| Respond to of 4298

I have MSFT as my biggest holding till now, but I think T might outperform MSFT in the next couple of years. After all, T only has 1/3 of the market cap of that of MSFT. What do you think?