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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: SteveG who wrote (10506)	3/4/1999 10:56:00 AM
From: Pamela Murray	Respond to of 12468

Thursday March 4, 10:40 am Eastern Time AT&T Canada, MetroNet To Merge NEW YORK (AP) -- AT&T Corp. (NYSE:T - news) has agreed to merge its Canadian operations with MetroNet Communications Corp., a local Canadian phone service supplier to businesses, in a deal that values Metronet at at least $2.3 billion. The deal announced today would enable the merged company to offer business customers in Canada everything from long-distance to Internet to local phone service. It would also extend AT&T's strategy of creating a one-stop shop for telecommunications. AT&T, the biggest U.S. long-distance provider, initially plans to merge its AT&T Canada operations with Metronet's business in a company to be called AT&T Canada Corp. The new company would have annual revenue of about $925 million, more than 4,000 employees and over $2.3 billion in assets. The merger will be carried out in several stages. After the first stage, Metronet shareholders would indirectly own 69 percent of the merged company and AT&T would have the remaining 31 percent. The second stage of the deal will occur after the companies receive regulatory approval for the merger. AT&T has agreed to buy all of Metronet's shares for at least 75 Canadian dollars per share -- $49.50 at current exchange rates -- or the appraised fair market value of Metronet shares at the time. At the minimum price, that would value Metronet's 45.5 million shares at about $2.3 billion. The payment would be cash, stock or some combination. The deal has been approved by the boards of both companies, but it must be approved by MetroNet shareholders at a meeting expected to be held in May. But if AT&T doesn't purchase the shares before June 30, 2000, the minimum price per share would be increased by 16 percent a year through June 30, 2003. AT&T's stock was up $1.12 1/2 to $84.50 a share in early New York Stock Exchange today. On Wednesday, MCI WorldCom announced an agreement with Bell Canada that will allow the U.S. company to extend its phone service into Canada. --------------------------------------------------------------------------------

To: SteveG who wrote (10506)	3/4/1999 10:59:00 AM
From: limtex	Read Replies (3) \| Respond to of 12468

SG - Looks pretty quiet to me. I asked someone over on LVLT why anyone would want to participate in a secondary and he said that if you put up on a secondary from a brokerage you get a guaranteed piece of the next secondary and that brokerage firms like them and then put their analysts on the case. Looks pretty thin reasons to me and whats the use of gettting in on secondaries if they end up like WCII? Still today we are supposed to hear. Its so quiet you can almost hear a pin drop. Talk about suspense! I must admit that it doesn't look very good. I mean no-one ever keeps things this quiet and with the NAZ having quite a good morning and W struggling up $1 I fear the worst but of course hope for something reasonable. Hopefully, L

To: SteveG who wrote (10506)	3/4/1999 11:22:00 AM
From: limtex	Read Replies (1) \| Respond to of 12468

SG - Sort of OT but related From TSC - Cramer today Yesterday, for instance, there were rumors that Intel (INTC:Nasdaq) was going to have to preannounce to the downside. I heard these vibrate despite my day off spent with the wife and kids. But they weren't true. (That's the same as saying they were a lie, by the way.) And the stock flew as shorts frantically covered.<?I> Is this maybe some of what has been happening to WCII? Regards still hoping, L