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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Jim Bishop who wrote (13446)	11/5/1999 3:12:00 PM
From: SSP	Respond to of 150070

TGNT - Microsoft Corp said it has invested 200 mln usd in wireless network provider Teligent Inc. "Teligent and Microsoft share a vision of creating new broadband pathways to deliver digital information with greater speed and efficiency," Microsoft CFO Greg Maffei said. The investment by Microsoft is the latest of a string of moves to increase the software maker's interest in telecommunications companies, including a 5 bln usd investment in ATT Corp and 600 mln usd in mobile wireless service provider Nextel Inc. The investment firm Hicks, Muse, Tate Furst also invested 200 mln usd, Microsoft said. It added that the total new capital raised by Teligent has reached 500 mln usd. Microsoft and Hicks Muse each will invest in Teligent convertible preferred stock due 2014. The conversion price of 57.50 usd per share is at a 28 pct premium over the previous five-day average closing price on the date the agreement was reached. At closing, the private equity group will own approximately 14 pct of Teligent's outstanding common stock on an as-converted basis.