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Technology Stocks : WCOM -- Ignore unavailable to you. Want to Upgrade?

To: B.G. Galbraith who wrote (5235)	10/7/1999 2:48:00 PM
From: PDL	Respond to of 11568

BG, I thought (and posted earlier) that we would see a downdraft to the $62/lower collar range given the price of this deal -- but perhaps that fall on Monday to the mid-$60's will be it. In prior WCOM deals, WCOM was biting off such a big load that I think it took some time for the Wall Street professionals to understand and believe how it could work and how the synergies could be realized. Having just digested MCI -- which was far bigger than WCOM in terms of revenues, assets, profits, etc. -- and delivered on those synergies much earlier than forecast, I believe the professionals recognize that this is a juggernaut and they probably don't want to fool around with trying to time a lower entry point. Also, this is probably the first time WCOM has done an acquisition when it was 20+% down from its recent high, so perhaps that "correction" was already factored into the deal. I'm heavily concentrated in this stock (going back many years through ownership of MCI from its early days), so I doubt I'll be buying any more. But I'm grateful for the position I have because this is a gem. I'll be shocked if, a year or two from now, we don't have at least a double if not a whole lot more. This acquisition could put a bit of a damper on what WCOM's performance otherwise might have been in the coming year, but long term, we had to have the wireless network and this is a wonderful fit. I wish Bernie had done this in the spring (at a lower cost) but he was still digesting MCI. Regardless of the timing, however, this just makes the WCOM "combination of global assets" that more compelling. JMHO.