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

To: SDR-SI who wrote (2759)	6/28/1998 7:46:00 PM
From: Harry Ehrlich	Read Replies (1) \| Respond to of 11568

Then can we assume that there will be no rally due to short covering? It was explained to me like this: Those who are short WCOM are (or will be) long MCIC. When the deal goes through, the MCIC shares will be converted to WCOM shares. The shorts will then cover by presenting the new WCOM certificates to their brokers. They paid less than deal value for the shares because the shares were trading at a discount to the deal, based on the uncertainties that always accompany mergers. Is this all correct? Harry