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To: zbyslaw owczarczyk who wrote (17378)	2/21/2000 12:19:00 PM
From: Tunica Albuginea	Respond to of 18016

TheStreet.com: CeBIT: The Coming Week in Europe: High-Tech Companies Look for CeBIT Boost The Coming Week in Europe: High-Tech Companies Look for CeBIT Boost TheStreet.com By Marc Young German Correspondent 2/19/00 12:30 AM ET BERLIN -- Call it the CeBITeffect. Every year around the time of the so-named computer and technology trade show, high-tech, telecom and Internet shares get a healthy boost skyward as CeBIT fever grips the market. The coming week should be no different, as this year almost 8,000 companies from around the globe will present their flashy new products and services to a hungry audience of investors, analysts and journalists in Hanover, Germany. The show runs between Feb. 23 and March 1. Besides the official local premier of Windows 2000 by Microsoft (MSFT:Nadaq), CeBIT will play host to sector giants as diverse as Lucent Technologies (LU:NYSE), SAP (SAP:NYSE), Ericsson (ERICY:Nasdaq ADR) and Deutsche Telekom (DT:NYSE ADR). And right beside them a slew of smaller tech firms will also be vying for a "CeBIT boost" to their share prices. Deutsche Telekom in particular will be represented in its many-splendored manifestations, including its Internet arm T-Online and its wireless unit T-Mobil. That both units will be floated later this year gives Telekom all the more reason to tout them at this year's CeBIT. Last week, T-Online announced two high-profile deals involving German online broker Comdirect and the purchase of one of France's leading ISPs, Club Internet. What else Deutsche Telekom Chairman Ron Sommer may have to spring on CeBIT participants is unclear. Although the executive does enjoy surprises, in all likelihood Telekom will present only smaller innovations in technology and service next week. "There's going to be lots of great new toys, but who knows how much substance there will be behind any of it," says one Munich-based strategist not willing to be named as a tech-momentum wet blanket. Another area likely to engender a fair amount of hype is broadband data communications via traditional electricity power lines. As discussed on TSC last week, German utilities such as RWE (RWAGY:OTC ADR) are looking to have their share prices take on a decidedly dot-com flavor in the coming months and years. However, the months and years are the operative timeframes here and analysts believe it's too early to give the local power company Yahoo! (YHOO:Nasdaq)-like valuations. "Power-line technology was first demonstrated at last year's CeBit," says Martin Dixon-Ward, an analyst for HSBC in London. "It caused excitement in share prices then," he says. "We could see a similar positive impact on sentiment this time." Of course, a few tech investors are asking if more hype is really such a good thing. Frankfurt's highflying Neuer Markt is in record territory amid a flood of new issues. Last summer the market went through some consolidation, separating the high-tech wheat from the chaff. But nowadays, it seems more companies than ever are going public, regardless of whether or not they're ready for such a step. That volatile mix of hype and stock market newbies could mean that in a month or two more than one company and quite a few shaken investors will be waiting around eagerly for next year's CeBIT effect.

To: zbyslaw owczarczyk who wrote (17378)	2/21/2000 12:21:00 PM
From: Bob Howarth	Read Replies (1) \| Respond to of 18016

London Financial Times today has brief story that ALA wants to pay 36 but NN may want a bit more. The article was not very penetrating. For one thing NN must have 2 or 3 bucks per share in cash. I suspect that the offer may be down here, which means the best strategy is to take the ALA exchange and then wait for ALA to recover back into the mid 50's or l,ow sixties later in the year to see the real value. Patience required on this one I am afraid.