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To: KLAW97 who wrote (7212)4/1/1999 12:22:00 AM
From: Benkea  Read Replies (1) | Respond to of 29970
 
"Look at the increase in the short postion, everyday we hit a new high."

I suspect, like any merger, it is people like me who are shorting ATHM and buying XCIT to lock in the discount. This discount is 17% right now for a merger that should close in about a month. Not a bad one month return. When the deal closes, I will cover my ATHM short with my current XCIT shares when they are converted to ATHM.

Needless to say this will not cause ATHM to run up in typical short squeeze fashion because we will cover our shorts without buying ATHM shares on the open market.



To: KLAW97 who wrote (7212)4/1/1999 11:37:00 AM
From: John F. Dowd  Respond to of 29970
 
This is a race between the cable cos. and the telcos. and if the past is prologuenothing is slower than the Bell Companies when it comes to getting things delivered to the consumer whereas the cable companies have a greater incentive and less union inertia.

JFD


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