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Gold/Mining/Energy : BCE Emergis - global e-commerce -- Ignore unavailable to you. Want to Upgrade?

To: salva who wrote (430)	3/24/1999 6:04:00 PM
From: Ruby	Read Replies (1) \| Respond to of 1341

Look at the close. At the high. The one day traders who short the stock have to cover by the end of the day. Tomorrow's open has to be even higher. Next stop is likely 35. If it breaks through tomorrow...watch out!!!!

To: salva who wrote (430)	3/24/1999 8:44:00 PM
From: rocki	Read Replies (1) \| Respond to of 1341

Ameritech to buy stake in BCE's Bell Canada Wednesday March 24, 7:33 pm Eastern Time >just posting what you guys have been talking about all day!< FOCUS-Ameritech to buy stake in BCE's Bell Canada By Robert Melnbardis MONTREAL, March 24 (Reuters) - U.S. Baby Bell Ameritech Corp. (NYSE:AIT - news) is committing C$5.1 billion for a 20 percent stake in Bell Canada, the main operating unit of BCE Inc. (Toronto:BCE.TO - news), Canada's largest telecommunications group, the companies said on Wednesday. The transaction has been approved by both companies' boards and is expected to close in May. It means Montreal-based BCE, Canada's most widely held company, has at last found a major U.S. partner in its quest to expand into telecom markets in the United States and overseas. The deal gives Chicago-based Ameritech a toehold in Canada. Ameritech is already poised to become part of the biggest U.S. local phone company through a planned takeover by Dallas-based SBC Communications Inc. (NYSE:SBC - news) in a deal worth $61 billion. That union received U.S. Department of Justice approval on Tuesday, but still needs the approbation of several states and the Federal Communications Commission. Under the agreement between Ameritech and BCE, Bell Canada will be reorganized so that Ameritech can hold stakes directly in certain other key BCE subsidiaries. Bell Canada will acquire BCE's stakes in six of Canada's regional telephone companies, its 21.5 percent holding in international long-distance services provider Teleglobe Inc. (Toronto:TGO.TO - news) and its 65 percent of wireless concern BCE Mobile Communications Inc. (Toronto:BCX.TO - news) The transaction does not affect BCE's 41 percent stake in Canadian telecommunications equipment maker Northern Telecom Ltd. (Toronto:NTL.TO - news). It also has been structured to allow BCE to forge an alliance with a larger partner without ceding control, a stipulation analysts said BCE President and Chief Executive Jean Monty had insisted on. ''This partnership assures Bell Canada's place at the forefront of the global communications industry while keeping Bell Canada firmly under Canadian control,'' Monty said. The Ameritech transaction ends BCE's search for a major telecom equity partner. BCE has no intention of selling more than 20 percent of Bell Canada or of cutting its Nortel stake, he said. Ameritech Chairman and Chief Executive Richard Notebaert said his company, as the largest foreign investor in European communications, would bring Bell Canada ''unparalleled experience in international partnerships.'' Taking up an equity stake in Bell Canada was the right way to ''cement'' Ameritech's relationship with BCE, just as the company has profitably invested in several European telecoms, he said. The world communications industry is expected to grow by 60 percent in five years to $2 trillion, Notebaert said. ''Two-thirds of that growth will take place in Europe and North America,'' he added. BCE plans to use the cash infusion from Ameritech to invest in high-growth businesses such as electronic commerce, satellite services, systems integration and content. It may also buy back some of its shares in the coming year to partly offset the dilution to BCE earnings caused by the reduction of its ownership of Bell Canada. Analysts viewed the partnership between Ameritech and BCE positively. ''It's outstanding. We see a go-forward strategy that is going to give Bell Canada scope and scale,'' said Eamon Hoey, president of telecommunications consulting firm Hoey Associates Inc. The partnership will give Bell Canada access to the 15 European countries Ameritech does business in through its equity stakes in five telecoms there. The relationship also could be a boost for Nortel. It competes with rival Lucent Technologies Inc. (NYSE:LU - news) as one of Ameritech's main telecom equipment suppliers. BCE shares surged C$2.45 at C$69.75 on the Toronto Stock Exchange on Wednesday shortly after the announcement. They fell back to C$68 by mid-afternoon. Nortel shares jumped C$1.65 to C$90.15. Ameritech shares rose $1.50 to $62.56 on the New York Stock Exchange, while SBC rose $0.50 to $49.13. Montreal-based Teleglobe, newly merged with Dallas-based long distance concern Excel Communications Inc., jumped C$2.50 to C$47.90. Based on its reorganized holdings under the Ameritech deal, Bell Canada would have had 1998 revenues of C$12.7 billion, assets of C$20 billion and 43,000 employees. Ameritech has assets of $30 billion and 70,500 employees.