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Gold/Mining/Energy : TD - Toronto Dominion Bank -- Ignore unavailable to you. Want to Upgrade?

To: M CAHILL who wrote (55)	1/28/1999 7:44:00 PM
From: Zirdu	Read Replies (1) \| Respond to of 358

The WSJ had a story the other day regarding the possibility of TD selling 20% of their discount brokerage business (Waterhouse and all the rest of them) in an IPO, or in the alternative possibly "spinning off" the discount brokerage part. I assume a spin off would be to TD shareholders. This would be of the most immediate benefit to TD shareholders, since they would then have stock in an "internet discount brokerage" company, which would undoubtedly soar. But I doubt TD would do that, since that wouldn't benefit TD bank, the corporation, at all. If TD does a 20% IPO, they would then retain 80%, and it would be easier to value TD itself. In that event, so long as the internet craze continues, I would suspect that this would help the price of TD stock. But not as much an increase as you would get if you got a spin off of the discount brokerage business. I do think that stregth in TD stock recently is probably somewhat due to recongition that they own Waterhouse and other discount brokers, who are big in the internet stock trading arena.