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Technology Stocks : Leap Wireless International (LWIN) -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Vayda who wrote (80)	9/29/1998 3:22:00 PM
From: JGoren	Read Replies (1) \| Respond to of 2737

The runup on the first day of trading after distribution was probably caused by the shorts. My understanding is that the shorts have to pay dividends to the owners of the stock they have borrowed, so the shorts had to get Leap shares, thereby running the price way up. (If anyone has a better understanding of this, please feel free to explain better than I have.) Since then the shares have gone down every day and now are at the price the company predicted would be the value on distribution. Unfortunately, the long term holders will end up with a bigger tax bill.

To: Jeff Vayda who wrote (80)	9/29/1998 3:35:00 PM
From: Webster	Read Replies (1) \| Respond to of 2737

Interesting article re Mexico Payments. I don't see LWIN's company here, although seven are still short. FYI Web. Mexico Won't Extend Deadline for Phone Companies to Pay Fees Bloomberg News September 29, 1998, 6:50 a.m. PT Mexico City, Sept. 29 (Bloomberg) -- Mexico won't extend tomorrow's deadline when companies must pay the government the remaining 80 percent of fees in return for wireless telephone frequencies, Reforma newspaper reported. Seven companies including Unefon SA, Grupo Iusacell SA, Telefonica Inalambrica del Norte SA and Telefonos de Mexico SA owe the government about $800 million. Enrique Melrose, an official at the state-run Federal Telecommunications Commission, said, the government would address individual petitions from companies to postpone their payments but the companies must pay interest on their fees until the total is paid, the paper said. Unefon, owned by Ricardo Salinas Pliego -- chairman and majority shareholder of retailer Grupo Elektra SA and broadcaster Television Azteca SA -- requested earlier this month an extension to the Sept. 30 deadline to pay about 2 billion pesos ($197.6 million) for frequencies. (Reforma 9/29 12A) --Katherine Baldwin in Mexico City (525) 514-7618 or through the