Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Rick who wrote (51342)	11/21/1999 10:52:00 PM
From: Ruffian	Respond to of 152472

MOT> Many U.S. investors are familiar with DoCoMo, Japan's largest cellular outfit. And yet, Gabelli points out, DoCoMo lacks an overseas strategy-a necessity at a time when nations are considering a global standard for third-generation phones and services and when huge capital commitments are needed to build up networks to support Internet use and other sophisticated applications. In contrast, Japan Telecom owns part of J-Phone, Japan's third-largest wireless provider, along with Vodafone. And last week, its joint venture with AT&T and British Telecom was approved by regulators. Even more value can be had from DDI, says Gabelli. DDI slid last week after taking a giant writeoff on its investment in Iridium. After Motorola, DDI is the biggest investor in the troubled satellite communications network. Gabelli is betting that DDI will link up very soon with a foreign partner, possibly Bell Atlantic. That could help Japan's third-generation standard to prevail over others. Gabelli thinks the two telecoms will take equity stakes in one another. At Y1.32 million last week, DDI stock is cheaper than DoCoMo's and trades at just 15 times cash flow, says Gabelli. In contrast, Vodafone changes hands at 25 times. Mannesmann is even more expensive, given that it's still partly in the industrial pipe business. Major foreign bourses advanced last week-although some European markets pulled back on profit-taking Friday after the Fed tightened credit, then assumed a "neutral" stance toward further interest-rate moves. As the U.S. and China struck a deal to allow the world's most populous country into the World Trade Organization, stocks in Hong Kong and China surged. Shares of Internet portal company China.com exploded as the pact eased fears about China's ban on foreign ownership of online companies. That sets the stage for a host of initial public offerings from China portals. Takeover activity continued to stoke prices. German equities marched higher on Vodafone's sweetened (in terms of price) but still sour (to many Germans' taste, considering their dislike of hostile deals, especially from foreigners like British-based Vodafone) bid for Mannesmann, Germany's second-largest publicly traded company. Some investors are speculating that BellAtlantic may yet make a bid. WSJ