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To: Les H who wrote (163178)5/1/2002 12:07:33 PM
From: Robin Plunder  Respond to of 436258
 
Les, If WCOM goes bankrupt and converts its debt to equity, how would that affect VZ and other baby bells. They would then have to compete with wcom at a much lower cost basis, since wcom would not have debt, but the baby bells would still be saddled with their own high debts. Would that tend to drive the baby bells themselves into bankruptcy so they can compete? Looks like a vicious circle that could go on for a long time.

Robin