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

To: zyx1996 who wrote (7433)	9/5/2000 11:39:50 AM
From: JDN	Read Replies (2) \| Respond to of 11568

To all: Perhaps this will make some doubters feel better. JDN The WorldCom Corporation is in advanced talks to acquire Intermedia Communications Inc., a telecommunications operator, for almost $3 billion in cash and stock, executives close to the negotiations said yesterday. Intermedia, based in Tampa, Fla., has been an extremely attractive takeover target because it has a 54 percent stake in Digex Inc., a so-called Web hosting company, which provides storage for corporate Web sites, monitoring their performance and providing Internet connections. It is viewed as the crown jewel of Intermedia, which sells basic phone services to businesses and government agencies and basic Internet connections. According to executives close to the deal, WorldCom entered negotiations with Intermedia last week after talks between Intermedia and Global Crossing, the telecommunications company based in Hamilton, Bermuda, broke down. A third suitor, Exodus Communications Inc., offered to acquire Digex, based in Beltsville, Md., directly for close to $8.5 billion in stock but was rebuffed by Intermedia NOTE THAT WCOM ends up owning 54% of Digex and DIGEX turned down 8.5 BILLION!! Deal is starting to look better in my mind.