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Technology Stocks : WCOM -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Wong who wrote (2593)	6/12/1998 5:56:00 PM
From: Anthony Wong	Read Replies (2) \| Respond to of 11568

Cable & Wireless Loses Bid to Halt MCI Internet Sales Talks Bloomberg News June 12, 1998, 4:26 p.m. ET Cable & Wireless Loses Bid to Halt MCI Internet Sales Talks Washington, June 12 (Bloomberg) -- Cable & Wireless Plc lost a federal court bid to bar MCI Communications Corp. from selling its Internet assets to another buyer without first negotiating with the British telecommunications company. Cable & Wireless said it was told by MCI that the U.S. company was soliciting new bids for its Internet assets, including the Internet wholesale business that Cable & Wireless agreed to purchase last month for $625 million. MCI agreed to that sale in an unsuccessful attempt to win regulatory approval of its $40 billion acquisition by WorldCom Inc. Europe's chief antitrust regulator, Karel Van Miert, had called the Cable & Wireless sale an insufficient divestiture of Internet assets. ''They've told us they will go out for a rebid on assets that include those involved in this transaction,'' Charles Lettow, Cable and Wireless's lawyer told U.S. District Judge Thomas Penfield Jackson. Jackson refused to grant a temporary order enforcing the May 28 agreement between MCI and Cable & Wireless, leaving MCI free to seek other bids for its Internet assets. MCI argued it didn't know the divestiture of the wholesale Internet business to Cable & Wireless wouldn't satisfy both U.S. and European antitrust enforcers. MCI lawyer Phillip Cohan said a restraining order would hamstring MCI's efforts to make divestitures acceptable to regulators. ''If this court were to grant the relief they request . . . . you'd be ordering the parties to negotiate in the best of good faith towards an objective that is totally unknown,'' Cohan said. --Anne Marie Squeo in Washington at 202-624-1862 jhr

To: Anthony Wong who wrote (2593)	6/12/1998 5:57:00 PM
From: ANANT	Respond to of 11568

AW and all: MCI progress with EU on the merger Thanks for the information. I think we may get some more encouraging news in the next week. Assuming we get good news and as the merger becomes closer to consummation, how do the stks MCI and WCOM behave relative each other. I believe they will be locked in some sort of a trading range. If WCOM presumably be above 41 , will MCIC go to closer to 51. I do not remember the factors of the collar. Can somebody throw some light on this? Thanks in anticipation. I heard this morning on CNBC some analyst ( do not remember his name or afflialation) answering to a question on WCOM investment. He said it is a great co it has everything but too rich in price now. He suggested buying the WCOM stk in the 37-38 price range. kind rgds ANANT