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Technology Stocks : COM21 (CMTO) -- Ignore unavailable to you. Want to Upgrade?

To: Charlie Smith who wrote (284)	4/22/1999 6:09:00 PM
From: pat mudge	Read Replies (2) \| Respond to of 2347

Another merger surprise. Since ATT owns TCI, this could be good for CMTO: <<< April 22, 1999 AT&T's Bid For MediaOne Could Help Cable Play In Two Ways By SHAWN YOUNG Dow Jones Newswires NEW YORK -- In a move that could advance AT&T Corp.'s (T) strategy to offer phone and Internet service via cable wires, AT&T has offered to buy MediaOne Group Inc. (UMG) out from under the nose of its existing merger partner Comcast Corp. (CMCSA). AT&T's $62 billion cash-and-stock offer for MediaOne tops the $48.63 billion in stock Comcast has agreed to pay. AT&T recently closed its $55 billion merger with the former Tele-Communications Inc. and has been trying to forge alliances with other cable companies that would allow it to reach more homes with combined cable, Internet, local and long-distance phone service. A deal with MediaOne could advance that strategy on its own merits and also help AT&T forge a critically important deal with Time Warner Inc. (TWX). A deal with MediaOne would give AT&T more of a presence in key strategic markets, including Boston, Atlanta and Los Angeles, a company spokeswoman said. The offer comes as AT&T's negotiations to provide residential local phone service over the lines of Time Warner Inc. (TWX) seem likely to drag on past the self-imposed April 30 deadline. MediaOne, which owns 25.5% of Time Warner Entertainment, has veto power over a Time Warner agreement with AT&T and has reportedly balked, saying the terms the companies were discussing were too favorable to AT&T. >>>>>