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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: Alfredo Nova who wrote (12046)	9/5/2000 12:22:40 PM
From: Bernard Levy	Read Replies (1) \| Respond to of 12468

Hi Alfredo: Re. TGNT. First, as you probably know, it is now controlled by John Malone and Liberty Media (he also controls ICGX). The high price target is due to the fact it is now entering its highest growth phase (TGNT is roughly 12 to 18 months behind WCII). WCII's growth appears to be slowing slightly (less resale) but its margins are expanding very rapidly as more customers are switched to its network. TGNT may be all right. However, Malone will probably want to fold ICGX and TGNT together. When this will happen and new financing is needed, I am not so sure he will treat other shareholders too well. Best regards, Bernard Levy