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

To: Katie Kommando who wrote (458)	6/28/2000 1:02:00 AM
From: Katie Kommando	Read Replies (1) \| Respond to of 489

June 26, 2000 Dow Jones Newswires Liberty: "Can't Understand" Low United Global Shr Price Dow Jones Newswires AMSTERDAM -- Liberty Media Group (LMGB) valued UnitedGlobalCom Corp. (UCOMA) at $70 per share in its purchase of 75.3 million shares announced earlier Monday. Speaking at a telephone press conference, Liberty chief executive Robert Bennett said that Liberty put UnitedGlobal's value at $70 based on a sum-of-the-parts valuation of UnitedGlobal's current assets, even though the shares closed at $43.56 on Friday. "We can't undertand why (such a large) discount would prevail," Bennet said. He said Liberty was "quite comfortable" with the amount it paid for UnitedGlobal's shares, since the valuation didn't take into account the ability of UnitedGlobal's management "to create value." - - 26/06/00 15-26G At the same conference, United Pan-Europe Communications NV (UPCOY) chief executive Mark Schneider said that he hoped to either increase UPC's 25% interest in Telewest PLC (TWSTY) of the U.K. to a controlling interest, or to "deepen" the two companies' strategic relationship to include partnerships in Internet access provision and distribution of television programming. As part of the deal between Liberty and UnitedGlobal, Liberty transferred its 25% stake in Telewest to UnitedGlobal. The stake was then sold to UPC in exchange for 128 million newly issued UPC shares. As a result, UnitedGlobal's stake in UPC increased to around 61% from 51%. Schneider also said that UPC will make an announcement about the twice-postponed public listing of its high-speed Internet access division Chello Broadband NV (CHLO) by next week at the latest. UPC has said in the past that the reason Chello's listing has been postponed is that either Chello, UPC or UPC's parent UnitedGlobal is in strategic talks with at least two partners that may have a profound impact on Chello's future prospects. UPC confirmed earlier Monday that Liberty was one of those partners and that other talks are continuing. -By Toby Sterling; Dow Jones Newswires; +3120-626-0770; toby.sterling@Dowjones.com