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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Daniel Merchant who wrote (32163)	4/9/1999 11:22:00 AM
From: SMALL FRY	Respond to of 120523

ESPI - First Union seem to think the takeover is justifiable as reported in Business Week. +MARKETMOVERS,E.SPIRE COMMS UP 2 1/8 TO 14 3/4 MarketScope, Friday, April 09, 1999 at 09:58 UP 2 1/8 to 14 3/4... First Union thinks current valuation so discounted that co. potential as takeover target has become justifiable: Business Week... See Pg. 17. -0- ESPI $$$ (0162) 04-09-99 09:47 AM EST Companies or Securities discussed in this article: Symbol Name NASDAQ:ESPI .................................................................. e.spire talked about as a takeover target-Biz Week Reuters, Thursday, April 08, 1999 at 20:35 NEW YORK, April 8 (Reuters) - e.spire Communications Inc (NASDAQ:ESPI), a local telephone carrier, could be a takeover target given its depressed stock valuation, Business Week reported in its April 19 issue. Quoting Frank Murphy of First Union Capital Markets, Business Week said that though a deal is not imminent, the stock's current valuation has been so discounted that its potential as a takeover target has become justifiable. Topping the list of companies rumored to be interested in buying e.spire is Qwest Communications International Inc (NASDAQ:QWST), which builds fiber-optic systems and provides Internet and multimedia services. Other contenders could include AT&T Corp (NYSE:T), MCI WorldCom Inc. (NASDAQ:WCOM), and foreign carriers as British Telecom PLC (ISEL:BT) and Cable & Wireless PLC (ISEL:CW). MCI already has "preferred local provider" links with e.spire in certain markets, Business Week said. Industry experts also regard the company as an undervalued backdoor entry to the Internet, the report said. Meanwhile, its stock has been on an upswing since February, and has reached 11 from 4-1/2. Still, its way off its 52-week high of 23 reached on July 8, the report said. Copyright 1999, Reuters News Service Companies or Securities discussed in this article: Symbol Name NASDAQ:ESPI NASDAQ:QWST NYSE:T At&T Corp NASDAQ:WCOM Mci Worldcom ISEL:BT ISEL:CW