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Technology Stocks : Able Telecom (ABTE) -- Ignore unavailable to you. Want to Upgrade?

To: SeveCords who wrote (426)	1/11/1999 8:41:00 PM
From: david james	Respond to of 700

More comments from Vik Grover at Kaufman Brothers (as posted on Yahoo). FIBER ASSETS REPRESENT CONSIDERABLE UNTAPPED VALUE FOR SHAREHOLDERS We have heard claims that ABTE's fiber assets have little value and the sale/lease of any of these assets would be immaterial to ABTE's financial health. Attached are documents that, in our view, refute these rumors. They describe ABTE's (vis a vis MFSNT), fiber assets. These assets include rights of way (ROWs), subterranean conduits, and fiber routes, both empty and also filled with multiple strands of fiber. We stand by our due diligence and continue to hold that the monetization of these assets during the coming months will generate considerable value for ABTE shareholders. We do not think this value is currently reflected in ABTE's common stock. Because many of these ROWs/conduits are along major telecommunications routes in the Northeast corridor, the largest telecommunications market in the world, we think they could be highly valuable to a telco/inter-city fiber company, such as Williams Cos. (WMB-$30 13/16). The attached documents, in our opinion, eliminate the doubt that ABTE's fiber assets have little value. They show that ABTE has significantly more “fiber assets” than a mere two conduits in the State of New York. We believe they could be parceled out in sales/leases for a significant gross sum of money (we estimate they represent a total value of roughly $50MM-$150MM) that would enable ABTE to reduce its debt burden to MCI WorldCom (WCOM-$75) and significantly improve its liquidity situation. A simple check of ABTE's 3Q98 10-Q reveals that these “resellable conduits” (that is in fact how they are labeled in the pro forma discussion of MFS NT's assets) were written down from an estimated fair market value of $65.7MM to $20.7MM due to purchase transaction accounting (ABTE had to write many of MFS NT's assets down because it purchased the company for $50MM less than its tangible book value of $100MM). During the coming months, we anticipate that a series of sales/leases of fiber capacity/conduits could be announced by ABTE that will result in a significantly strengthened financial condition. · Against this backdrop, we reaffirm our “TOP PICK” rating on ABTE. · We reiterate our “BUY/BUY” recommendation on ABTE. Our 12-month price target remains $23.

To: SeveCords who wrote (426)	1/11/1999 8:59:00 PM
From: Michael Bidder	Read Replies (2) \| Respond to of 700

But we really don't know if Asensio is short do we? Michael Bidder

To: SeveCords who wrote (426)	1/12/1999 11:44:00 AM
From: david james	Read Replies (1) \| Respond to of 700

From www.stocksmart.com Top Ten Mutual Funds Shareholders (* denotes new position) Fidelity Select Telecommunications Portfolio.. * 985,100 Fremont U S Micro-Cap Fund.. * 175,000 Fremont Institutional U S Micro-Cap Fund.. * 60,000 Vanguard Index Trust (Extended Market)..52,800 Managers Special Equity Fund.. * 50,000 Monetta Fund.. * 50,000 DFA Invt Dimensions (US 9-10 Small Co) ..47,200 Cappiello-Rushmore Emerging Growth Fund..* 30,000 Fidelity Advisor Focus Utilities Growth..* 20,600 Value Line Special Situations.. * 12,000