To: PDL who wrote (4250 ) 4/27/1999 8:52:00 PM From: Teddy Read Replies (1) | Respond to of 11568
Here's some of the usual BS from The Wall Street Urinal and their Talking Heads over at C omments N o one B elieves C eriously Dow Jones Newswires -- April 27, 1999 CNBC's FABER REPORT: Update On MCI Worldcom-Nextel Rumors The following report was aired Tuesday on CNBC-TV by CNBC reporter David Faber: "While rumors are running to the contrary, sources close to the negotiations between MCI Worldcom and Nextel tell me not to expect a deal between the two this week and not at the price being rumored if it happens. Talks between the two companies continue, but the expectation among those close to this process is that it won't conclude one way or another this week. As I've reported previously, the two sides continue to focus their negotiations on price. Nextel, I'm told, has made it clear it wants an offer in excess of $45 a share. MCI, meanwhile, is determined not to offer more than one half of its shares for each share of Nextel. And I am told MCI is not offering a collar in any deal, meaning that if it were to announce a deal and its stock fell, the value of the deal for Nextel holders would fall as well, rather than being made up by more MCI shares being issued. Right now with MCI's stock down on the day, one half of a share would be worth a few cents more than $45. MCI Worldcom was a good deal higher on the day, but turned around as rumors a Nextel deal was near began to spread. Nextel's stock also reversed course. After being off earlier it is now up substantially on rumors it would receive in excess of $50 from MCI Worldcom. But if a deal were to be done for the half a share that MCI seems focused on, there wouldn't appear to be much upside in Nextel's stock from here."