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To: K. M. Strickler who wrote (49333)	6/30/1998 7:59:00 AM
From: Geoff Nunn	Read Replies (1) \| Respond to of 176387

Ken, you may be right that there is hope for the ATT-TCI merger. Nonetheless, the market has just wacked the stock (ATT), lopping $11bil from its market value. That is an amazing figure. The market doesn't do things like this without good reason. For it to be seriously wrong is for a large number of knowlegable and savvy professionals on wall Street to be wrong. These folks know the industry, and they certainly know how to perform financial calculations. That doesn't mean they always get it right. They are making large bets using their own money, and what they're saying is ATT just laid an egg. Let's see how it turns out. Geoff