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Technology Stocks : LAST MILE TECHNOLOGIES - Let's Discuss Them Here -- Ignore unavailable to you. Want to Upgrade?

To: MikeM54321 who wrote (3741)	5/16/1999 11:01:00 PM
From: Frank A. Coluccio	Read Replies (1) \| Respond to of 12823

Mike, Bernard, Thread, Mike, to answer one of you questions, I'm not quite sure which of the venues the FCC could cite the new merged entity as either cornering or monopolizing. When placed side by side these two entities look nothing alike. According to at least one news source today (MarketWatch), this deal seems to be on its way to getting wrapped up. See Below. If you look at the terms and what's going on it looks really wierd. Would you agree? Something doesn't seem right. Look at the terms, and you tell me. Regards, Frank Coluccio ------- marketwatch.newsalert.com [courtesy of Diver, on the GBLX thread] For posterity: U S West, Global Crossing To Merge Associated Press Online - May 16, 1999 20:02 By NOELLE KNOX AP Business Writer NEW YORK (AP) - Baby Bell phone company U S West Inc. has reached an agreement to merge with growing telecommunications company Global Crossing Ltd., according to a source close to the negotiations. Under the deal, which will be announced Monday morning, U S West will purchase 9.5 percent of Global Crossing for roughly $2.4 billion, the source said. The two companies will subsequently merge in a 50-50 stock combination, creating a company with $17 billion in annual revenue and a stock market value of $65 billion. The combined company, which would keep the Global Crossing name, would have two separate stocks: one to track the performance of the high-growth Internet and data assets, the other stock for the traditional telephone assets. Investors will be able to choose which stock they want to hold, the source said. Robert Annuziata, Global Crossing's chief executive officer, will share the power and the top title of the new company with Solomon Trujillo, chief executive of U S West, the source said. U S West, based in Denver, has local phone customers in 14 Western and Midwestern states, a wireless phone service, and offers high-speed Internet access. It had $12.4 billion in revenue in 1998. Global Crossing, headquartered in Bermuda, offers local and long-distance phone service and has a vast undersea fiber optic cable network. Though it had only $424 million in revenue in 1998, Global Crossing has been on a buying spree recently. In April, it agreed to pay $725 million in cash for the undersea cable operations of the British telecommunications company Cable & Wireless. In March, Global Crossing signed a contract to acquire Frontier Corp., a phone company based in Rochester, N.Y., for about $11 billion in stock. On Friday, investors bid up the price of U S West shares by $2.25 to $62.25 amid a broad selloff on the New York Stock Exchange. Global Crossing's Nasdaq-listed stock was up $1.37 1/2 cents at $61.37 1/2

To: MikeM54321 who wrote (3741)	6/9/1999 12:40:00 PM
From: MikeM54321	Read Replies (1) \| Respond to of 12823

Re: FCC / US West+Global Crossing / Bell South+Qwest Thread, I linked this post to the US West+Global Crossing deal from May 16th. It appears FCC is shooting down that deal. And I'm sure Bell South+Qwest will be next. It's not relavant which LD company pairs with what ILEC. As we suspected it's a no go anyway. Seemed so obvious to us Last Mile investors, but check out my linked posted above. Remember how the media made such a big deal out of something we figured wouldn't happen. But it appears the main stream press may have learned, because I can't even find a major headline today on Bell Atlantic's move on Qwest. And just think, the US West+Global Crossing made the NBC, CBS, and ABC National television news a month ago. But sooner, or later, the FCC WILL ALLOW this type of deal, and it's going to spread like wildfire. MikeM(From Florida) *********************** Court Sides with FCC-- Bars Qwest, Bell Deal WASHINGTON, June 8 — A U.S. Appeals Court Tuesday agreed that a 1996 law barred regional Bell companies like Ameritech Corp. and US West from selling long distance service from Qwest Communications International Inc. The ruling, upholding a decision by the Federal Communications Commission, was a victory for AT&T Corp. and other carriers who argued that marketing agreements Qwest made with Ameritech and US West last year were illegal since the Baby Bells themselves are barred from providing long distance. ------------------------- BellSouth May Buy Qwest NEW YORK -- BellSouth Corp. is considering acquiring Qwest Communications International Inc. in a move to enter the long-distance telephone market. BellSouth, the Atlanta-based regional phone company, recently purchased a 10 percent stake in Qwest, the fourth-largest long-distance company. BellSouth ''has considered and continues to explore'' various alternatives, including ''transactions which may result in the acquisition of a control position in or combination with'' Qwest, according to documents dated May 27 and filed with the Securities and Exchange Commission..Blah, blah, blah.....