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To: FatMatty who wrote (65035)	3/29/1999 7:49:00 PM
From: spy hard	Respond to of 119973

Taken from MSNBC: LATE LAST WEEK, the giant telecom company spent what traders tell me could have been as much as $300 million to $400 million on the purchase of bonds and equity issued by CAI Wireless, and bonds issued by wireless cable companies CS Wireless, People's Choice TV and Wireless One. WorldCom, trading sources tell me, may now control between 50 and 60 percent of the bonds of these companies and appears to control much of the equity of CAI Wireless as well. CAI Wireless declined comment. WorldCom purchased the bonds and stock from Merrill Lynch and Moore Capital. These two firms were widely known as the largest holders of the debt of the wireless cable companies — most of which are still trying to reorganize after failing in their attempt to send cable television signals to customers without using a cable. Moore Capital declined comment, citing confidentiality requirements. A Merrill Lynch spokesperson has not yet responded to a request for information. Each of the wireless cable companies save CAI is restructuring, meaning control of the company is in its debt, not its stock. CAI emerged from bankruptcy last October, and Merrill Lynch's Global Allocations fund was a big holder of its new bonds and its equity — a result of holding the old bonds and providing financing for the company to emerge from bankruptcy. CAI was once a major contender in the emergence of wireless cable and boasted partners such as Bell Atlantic. But it failed to translate its holdings of so-called MMDS spectrum into a viable business. While WorldCom had no comment, the speculation about its intent here centers on the use of the spectrum controlled by these wireless cable companies. MMDS is a part of the telecommunications spectrum that did not prove effective for transmitting analog video. But with these companies controlling what is 200 megahertz of broadband spectrum, it is clearly of value to WorldCom. Michael Whelan, PCTV's CFO, believes the company may try to win control of these companies so as to use the spectrum for its UUNet Internet unit. UUNet currently pays the Baby Bells for the T-1 lines that connect it to customer homes over the so-called last mile. WorldCom also pays the Baby Bells for that last mile connection. But if it can bypass that with its own wireless broadband solution, its costs go down. PCTV and CAI alone cover close to 50 percent of the country with their spectrum. Whelan says his company is currently offering high speed data transmission to 2,000 of its customers. Industry sources tell me WorldCom may have made its move in a backhanded way to beat competitor Sprint to the punch.

To: FatMatty who wrote (65035)	3/29/1999 7:50:00 PM
From: GerryMiles	Read Replies (1) \| Respond to of 119973

One last time-take a look WAVX Message 8465123 This stock will split ***** times over the years. This is just the beginning. This is a tip, nothing more. Read about the potential and the comparison to Intel-- infoworld.com In the end game WAVX will be THE internet stock. 9:0) Two billion trusted PCs--ubiquity!