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

To: david thor who wrote (1842)	1/22/1998 3:24:00 PM
From: Ken Turetzky	Respond to of 5650

PSINet Bidder Talks To Hldrs On Concerns Over Bid Federal Filings via Dow Jones WASHINGTON (FFBN) -- Former Digex Inc. chairman Christopher McCleary has spent the day taking calls from shareholders of PSINet Inc., who he says have concerns regarding the dismissal of his interest in purchasing the company at $10 per share. In an interview with Federal Filings Business News, McCleary said he is seeking a delay in tomorrow's meeting of PSINet shareholders which is set to vote on an alliance between the company and IXC Internet Services Inc. (IIXC), and wants shareholders to have time to consider both offers. McCleary said he may make an announcement later today regarding the possibility of a raised bid. PSINet has said that a delay in the shareholder meeting would be a breach of its agreement with IXC. McCleary does not believe that this is the case. The planned alliance, if approved, will give IXC a 19.9% stake in the PSINet. After leaving Digex, which was sold to Intermedia Communications Inc. (ICIX), McCleary formed USinternetworking Inc. for the sole purpose of purchasing PSINet.