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Technology Stocks : VocalTec (VOCL) -- Ignore unavailable to you. Want to Upgrade?

To: Ted Downs who wrote (1020)	12/30/1997 11:01:00 AM
From: BARRY ALLEN	Respond to of 2349

Tuesday December 30, 9:33 am Eastern Time Deutsche Telekom buying stake in VocalTec NEW YORK, Dec 30 (Reuters) - Deutsche Telekom (NYSE:DT - news), making a move to establish telephone operations on the Internet, said Tuesday it is buying a 21.1 percent stake in Herzliya, Israel-based VocalTec Communications Ltd (Nasdaq:VOCLF - news). Sources close to the deal told Reuters that Deutsche Telekom's purchase of 2.3 million shares of VocalTec stock worth about $48.9 million, based on the December 29 closing price of $21.25 a share, is ''in the ballpark'' for the total value of the equity investment. In addition to the equity investment, Deutsche Telekom, Europe's largest telephone service provider, said it is purchasing more than $30 million of VocalTec's products and services, with at least $21.7 million bought by December 31, 1997. The companies said in a joint statement the final agreement stems from a memorandum of understanding signed on August 27, 1997. The telephone company plans to deploy the Internet telephone services and equipment in 1998 which coincides with the deregulation of the European telephone market. --------------------------------------------------------------------------------