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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (4429)	4/10/1999 10:54:00 AM
From: blankmind	Respond to of 30916

Japan's Softbank May Invest In IDT's Internet-Phone Business April 09, 1999 4:38 PM NEW YORK -(Dow Jones)- Shares of IDT Corp., a provider of telephone and Internet access services, rose 29% Friday on a report that Japan's Softbank Corp. may invest in the company's Net2Phone Internet-phone unit. Shares of IDT (IDTC) climbed $7 to settle at $30.813 on volume of 6.9 million shares, compared with average daily volume of 1.6 million shares. CBSMarketWatch reported that Softbank is in talks with IDT to invest in Net2Phone, a sign that IDT might be preparing to spin off the unit. IDT cited the article for the stock surge but declined to confirm or dismiss the report. In the story, Softbank said it is nearing a deal with Net2Phone, which might close within the next two weeks. Net2Phone, which offers telephone calls via the Internet, has long been the subject of rumors that it might be spun off in an initial public offering. Copyright (c) 1999 Dow Jones & Company, Inc. All Rights Reserved.