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Technology Stocks : PSIX up 26.5%, Takeover(?) -- Ignore unavailable to you. Want to Upgrade?

To: bob zagorin who wrote (1587)	12/3/1997 3:05:00 PM
From: Sandie	Read Replies (2) \| Respond to of 5650

From the WSJ: "New AT&T chairman and chief executive, C. Michael Armstrong, is planning targeted investments in local phone, Internet and global services..." Three points: 1. There have been recurrent rumors that AT&T has experienced difficulty building out its own ISP facilities. 2. PSINet has been in talks with AT&T before --I believe Schraeder has confirmed as much in the past. 3. Perhaps there are two acquisition audiences for PSINet. Those who are more interested in the "beachheads" gained by the business accounts (a small fish); and those who are more interested in the infrastructure (the big fish ala ATT). The differing audiences may explain the wide variances in valuation estimates and deal-to-deal comparisons.