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To: GST who wrote (124997)	5/14/2001 2:00:56 PM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Gst, I now have more CWP stock. What do you think? I think CWP sure made a great deal selling its Hong Kong interests to PCW about year ago. >British telecom company Cable & Wireless (nyse: CWP - news - people) dipped into its war chest today and bought struggling U.S. Web services firm Digital Island (nasdaq: ISLD - news - people) for $340 million in cash, including some $49 million of net debt. C&W, which has a cash pile of more than $8.5 billion, is offering $3.40 in cash for each share in San Francisco-based Digital Island--an 8.7% premium to Friday's closing price of $3.13. C&W said the deal will boost its offerings in content delivery, managed hosting and Internet services. Digital Island last week said it was laying off 20% of its staff and reported a second-quarter loss of $1.19 billion after writing off more than $1 billion in assets. More...