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Technology Stocks : George Gilder - Forbes ASAP -- Ignore unavailable to you. Want to Upgrade?

To: Jack Hartmann who wrote (4618)	7/9/2000 1:46:43 AM
From: puborectalis	Read Replies (1) \| Respond to of 5853

streetadvisor.com.......Meet the New, Bigger AT&T Todd Truitt Jun 15 2000 AT&T [T] closed its $44bn merger with MediaOne [UMG] today, officially creating the largest cable TV provider in the US. The completion of the merger is already priced into the stock, but continue to view AT&T as an undervalued buying opportunity. We feel the investment community is still overreacting to the company’s missed 1Q00 numbers and lowered 2000 estimates. The stock has been hammered since the May announcement—down more than 30 percent—and continues to have trouble gaining the confidence of the investment community. However, we believe with its wide array of cable, wireless, local, and long-distance assets, AT&T is trading well below fair value, which we believe is $58 per share. The financial breakdown of the MediaOne acquisition looks like this: AT&T Stock 606m shares @$33.50 $20.3bn Cash $23bn Total $43.30 The combined company must still divest some of its cable assets to lower its control of the market to 30 percent.