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To: zbyslaw owczarczyk who wrote (10855)	4/16/1999 4:00:00 PM
From: pat mudge	Respond to of 18016

Another rumor, but at least it makes sense: April 16, 1999 14:41 US OPTIONS/Cable & Wireless vols up, takeover talk CHICAGO, April 16 (Reuters) - Implied volatility in options on Cable & Wireless Plc popped higher on Friday and interest built in calls as players began getting whiffs of takeover talk concerning the British telephone company, analysts and traders said. Paul Foster, investment strategist and editor of 101wallstreet.com, said the market was starting to get wind of a story in the Saturday edition of the German newspaper Die Welt that Deutsche Telekom AG , Europe's biggest phone company, was in advanced talks to buy Cable & Wireless. Earlier on Friday, European newspapers reported that Deutsche Telekom was weighing a merger with Telecom Italia SpA . "There's a rumor that Deutsche Telekom would be interested in it (Cable & Wireless)," said Michael Benson, a market maker in Cable & Wireless options at the Chicago Board Options Exchange Officials of the three companies declined to comment on the market talk. Implied volatility for the May 40 calls jumped to roughly 56 percent around midday on Friday, up from 48 percent on Thursday. Volume on the May calls stood at 283 on open interest of 63 contracts. "That's a significant move," Benson said of the volatility rise. "There's quite a bit of interest in it (calls). This is the first significant paper we've had in some time." American Depositary Receipts of Cable & Wireless traded on the New York Stock Exchange were up 2-13/16 at 41-1/8 at 1303 CDT/1803 GMT after hitting a high earlier on Friday at 42-7/8.

To: zbyslaw owczarczyk who wrote (10855)	4/16/1999 4:13:00 PM
From: pat mudge	Read Replies (2) \| Respond to of 18016

This can't be hurting: <<< April 16, 1999 14:41 US OPTIONS/Cable & Wireless vols up, takeover talk CHICAGO, April 16 (Reuters) - Implied volatility in options on Cable & Wireless Plc popped higher on Friday and interest built in calls as players began getting whiffs of takeover talk concerning the British telephone company, analysts and traders said. Paul Foster, investment strategist and editor of 101wallstreet.com, said the market was starting to get wind of a story in the Saturday edition of the German newspaper Die Welt that Deutsche Telekom AG , Europe's biggest phone company, was in advanced talks to buy Cable & Wireless. Earlier on Friday, European newspapers reported that Deutsche Telekom was weighing a merger with Telecom Italia SpA . "There's a rumor that Deutsche Telekom would be interested in it (Cable & Wireless)," said Michael Benson, a market maker in Cable & Wireless options at the Chicago Board Options Exchange Officials of the three companies declined to comment on the market talk. Implied volatility for the May 40 calls jumped to roughly 56 percent around midday on Friday, up from 48 percent on Thursday. Volume on the May calls stood at 283 on open interest of 63 contracts. "That's a significant move," Benson said of the volatility rise. "There's quite a bit of interest in it (calls). This is the first significant paper we've had in some time." American Depositary Receipts of Cable & Wireless traded on the New York Stock Exchange were up 2-13/16 at 41-1/8 at 1303 CDT/1803 GMT after hitting a high earlier on Friday at 42-7/8. >>>> Which reminds me of an article I read in yesterday's IBD where John Sidgmore was asked about acquisitions. "Fixed wireless? I don't know if we'll make an acquisition there or not. But we'll certainly have much more fixed-wireless capacity in our network two years from now than we do today." Another great day! Pat

To: zbyslaw owczarczyk who wrote (10855)	4/17/1999 1:50:00 AM
From: pat mudge	Read Replies (2) \| Respond to of 18016

4/16/99 Any suggestions where Sprint might get a fully-managed IP/ATM solution???? By Chuck Moozakis Users Are Dubious As Sprint Readies ION 2.0 Even as Sprint finalizes an upgrade to its integrated voice and data network, experts give the new-age network mixed reviews. Even as Sprint finalizes an upgrade to itsintegrated voice and data network, expertsare giving the new-age network mixed reviews. Marty Kaplan, Sprint's chief technology officer, said the carrier is on track to launch version 2.0 of the ATM-based network this summer, delivering voice and data services to business customers. But observers pointed out that the Integrated On-Demand Network (ION) is running three months behind the original schedule set in December, when the carrier said it would be available in 27 cities by now. Even beta testers seem less than eager to talk about ION. Representatives from Hallmark Cards Inc. and trucking company Yellow Corp., two companies evaluating ION, declined to make their IT executives available for comment regarding ION. “We haven't tested the boundaries at this point,” a Yellow Corp. spokesman said. “We realize there are some network issues that have to be worked through. We still see it as a very high-potential technology; we just haven't made a lot of progress yet.” Another tester, Ernst & Young, has told Sprint that it no longer will comment publicly about ION until its testing is concluded. “There seems to be a disconnect between [Sprint's] objective and its architecture,” said Tom Nolle, president of consultancy CIMI Corp. “[Sprint] is talking about tying ION to the flexibility of services offered; the problem is that it is still presenting these services in an ATM-level context.” Nolle's research indicates that the largest barrier confronting the deployment of these services in an enterprise is the skill required to dynamically tie the service to an application, he said. Kaplan expects enthusiasm to blossom once ION begins carrying mission-critical voice and data across Sprint's network. “When we made the decision to go broadband, we attacked the integration of technology,” he said. “It's more than interworking or interoperability. The goal is to get systems at the technical level to work together seamlessly.” It's not a decision between writing ATM or IP applications, Kaplan said. “They will co-exist, with ATM at the transport layer and IP at the application. IP applications will remain where they are, but they will gain ATM's ability to control traffic flow and give customers QoS.” To that end, ION improvements in version 2.0 will center on management and monitoring applications to be developed by Telcordia Technologies (formerly Bell Labs); and routers, digital subscriber line access multiplexers and other customer premises equipment designed by Cisco. Cisco also will build a central processor capable of distributing voice-over-ATM in a device to be developed by Telcordia, Kaplan said. A call processing control and management system, meanwhile, will be co-written by Sprint and Groupe Bull. The so-called JCS2000 voice package will begin its initial deployment in July. By year end, voice also will be distributed over DSL, providing the foundation for common delivery to both businesses and consumers, Kaplan said. ATM transport will be beefed up further, Kaplan said, when Sprint adds switched virtual-circuit support to ION next year. That will allow customers to further fine-tune how much of the ATM pipe they need to distribute data, thus providing additional management and cost savings, he added. Meanwhile, Sprint will step up its investigation of various last-mile technologies to bring ION to customer premises. The carrier has backed off its original plan to use RBOC-supplied dial-up links. Instead, Kaplan said, it will look at a variety of alternatives, including wireless technology. >>>>>>