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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (22293)	5/6/1999 9:21:00 PM
From: J Krnjeu	Read Replies (1) \| Respond to of 74651

Mr. tech2000, Glad to see back from vacation. Hope you had a great time. Welcome back. Thank You JK

To: t2 who wrote (22293)	5/6/1999 10:12:00 PM
From: Maverick	Read Replies (1) \| Respond to of 74651

Greg Maffei said the company's AT&T investment will not dilute its earnings. Microsoft will acquire a 3% stake, or 107 million AT&T shares through convertible securities and warrants. The purchase price on the 66.7 million convertibles and 40 million warrants is $75 per share. In addition to its investment, Microsoft will purchase MEDIAONE's 29.9% interest in Telewest Communication PLC through a tax-free exchange of Microsoft shares. The purchase price wasn't specified. AT&T CFO Dan Somers said he expects the drag on AT&T's pro-forma 2000 earnings because of its acquisition of Mediaone to decline to 10% dilution, down from a former estimate of 25% dilution. (Dow Jones). MSFT now owns stakes in Comcast, AT&T, and MediaOne. MICROSOFT said it would take a $5 billion stake in AT&T CORP, forging an alliance to speed the delivery of voice, video and Internet services into millions of American homes. AT&T will increase its use of Microsoft's Windows CE-based operating system software in its digital set-top boxes, through which AT&T expects to manage its high-capacity cable links to customers. AT&T had previously committed to use a Windows CE-based system in 5 million television set-top boxes, which will be raised 50 to 100% under Thursday's announcement. AT&T will also license software Microsoft is developing to deliver e-mail and interactive services over cable television. (Reuters 09:09 AM ET 05/06/99)