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Technology Stocks : Covad Communications - COVD -- Ignore unavailable to you. Want to Upgrade?

To: BoyTrader who wrote (2570)	11/29/2000 3:53:01 PM
From: Geoff Altman	Read Replies (1) \| Respond to of 10485

Oh yes, that must be the problem no doubt. Just one flaw with that one, NPTP is valued at 2 bucks! Great logic. NOT

To: BoyTrader who wrote (2570)	11/29/2000 4:00:34 PM
From: Geoff Altman	Read Replies (1) \| Respond to of 10485

Yes Boywonder you're all over that one: WEDNESDAY, NOVEMBER 29, 2000 12:29:00 PM EST NEW YORK, Nov 29 (Reuters) - Verizon Communications and high-speed Internet access company NorthPoint Communications Group Inc. may adjust or cancel their merger deal due to NorthPoint's recent financial woes, sources familiar with the situation said on Wednesday. Local telephone company Verizon agreed in August to purchase a controlling stake in NorthPoint for $800 million and merge the companies' digital subscriber line (DSL) businesses. DSL technology provides high-speed Internet access over copper telephone wires. Sources said the deal's terms may be revised since NorthPoint NPNT recently revised downward its third-quarter financial results after it discovered some of its customers may not have the money to pay for services. VerizonVZ has been reviewing its options in the deal, but no decision has been made, sources familiar with the situation said. While the companies may decide to proceed as planned, the merger agreement may be dissolved or altered, said the sources, who declined to be identified by name. Verizon declined to comment. Northpoint, meanwhile, said it still expects the deal to close as planned in the first half of 2001. "As of today we are still on track with our plans," said NorthPoint spokeswoman Nicole Burnett. Other wholesale DSL providers also have suffered from customers' financial problems. Covad Communications Group Inc. COVD recently revised downward its results due to lack of payment by several Internet service provider customers. Given the dismal financial prospects for the data CLEC (competitive local exchange carrier) sector, some analysts expect the Verizon-NorthPoint deal to founder. Verizon's "existing deal with Northpoint could be in significant trouble, as one of Northpoint's largest customers (FlashCom), which accounts for as much as 20 percent of Northpoint's access lines, appears to have closed its doors due to financial trouble," ING Barings analyst Gregory Miller said in a research report. "With only the value of its real estate to speak of, we would be surprised to witness additional M&A (merger and acquisition) activity in the space and we would be even more surprised to witness Verizon complete its merger with Northpoint," Miller said.

To: BoyTrader who wrote (2570)	11/29/2000 4:12:44 PM
From: Captain James T. Kirk	Read Replies (2) \| Respond to of 10485

Did I miss something BOY? Was there a press release saying the NPNT deal was off or are you just acting your proclaimed age?