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To: Bernie Diamond who wrote (6221)	5/19/1998 10:42:00 AM
From: Rono	Respond to of 10227

Tuesday May 19 6:56 AM EDT Sprint PCS to be restructured By Jessica Hall NEW YORK (Reuters) - Sprint Corp. and its cable TV partners are expected to announce this week a restructuring of Sprint PCS that would set up a tracking stock for the wireless joint venture and may eventually lead to an initial public offering, industry sources and analysts said. Under the plan, Sprint would increase its stake in the wireless venture to more than 50 percent from the current holding of about 40 percent, the sources said. The business would trade as a separate tracking stock and may eventually have an IPO later this year, sources said. It was not immediately clear what portion of Sprint PCS may be sold in a public offering. Sprint declined to comment. Representatives of Cox Communications Inc. and Comcast Corp., cable television companies, which each own a stake in Sprint PCS, did not immediately return calls seeking comment. Another cable TV company that owns part of Sprint PCS, Tele-Communications Inc., declined to comment. Sprint stock gained $3.875 to $73.875 Monday in heavier-than-normal trading of 1.7 million shares on the New York Stock Exchange. Average daily trading volume is just more than one million shares. Sprint and its cable partners have been mulling a restructuring of the wireless venture for about two years. At Sprint's annual shareholders' meeting last month, Chairman Bill Esrey said the company was interested in having more management control over Sprint PCS. Sprint PCS operates in about 135 markets nationwide, giving it a much broader network compared with regional PCS (personal communications services) players such as Omnipoint Corp. or Aerial Communications Inc. Separating the wireless PCS assets from Sprint's main long-distance business would allow Wall Street and investors to value each piece separately. The split may also make each part a more attractive takeover target, analysts said. While Sprint has said it is not looking for a merger partner, analysts expect the company would be swayed if the acquisition price was high enough. Sprint stock has risen 40 percent over the past seven months amid the rapid crunch of consolidation in the telecommunications industry. Analysts said an interested buyer would have to pay a high price for the nation's third-largest long distance company, with takeover prices seen at about $90 a share. Sprint is 20 percent owned by France Telecom and Deutsche Telekom AG. Earlier this year, those partners surrendered their right to veto any potential divestiture or merger. Sprint could enter into a friendly deal with its overseas partners, but they are restricted for a decade from increasing their stake in Sprint without Sprint's approval. ^REUTERS@

To: Bernie Diamond who wrote (6221)	5/22/1998 5:38:00 PM
From: Ed Pittman	Read Replies (1) \| Respond to of 10227

***OFF TOPIC**** No Bernie I never went that far as to a three-leg country...But, my brother had a license and I went many times with him..Thas is great that your son flys, that way there is 2 people that can fly the plane... Back in 74 I was talked into the advantages of buying your own plane. All the tax breaks etc. Well let me tell ya, its not that great. Only if you have a license and rent it out...So, we bought a cheroke Big 6...What happen...We rented it out and a person used it to fly in drugs from Mexico...Well it gets downed in Desert Center..And they take the own plane apart..What happens to me..Is i have a plane payment to meet and the feds are holding the plane. When we got the plane back we had to send someone to put it back together.. i had 2 other partners in this venture. But, I would like to fly again some day. Catch ya later.. ed