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Technology Stocks : WRDP Worldport - - - opens the port to the world. -- Ignore unavailable to you. Want to Upgrade?

To: Fred Rollins who wrote (20)	5/20/1999 11:00:00 PM
From: sydney	Respond to of 82

Reported the same on Cabletron a week or so ago and sold too early..so need to make it up with WRDP...a second chance!

To: Fred Rollins who wrote (20)	5/21/1999 1:43:00 AM
From: Fred Rollins	Read Replies (1) \| Respond to of 82

Here's the story from Bloomberg: WorldPort Rises This Week on Buyout Speculation, Analysts Say Kennesaw, Georgia, May 19 (Bloomberg) -- Shares of WorldPort Communications Inc., which sells time on its international phone network to other telecommunications companies, have climbed as much as 27 percent this week amid speculation that an equity investment or takeover is imminent, analysts said. WorldPort rose as high as 10 1/8 today, before falling 7/16 to 9 3/8. About 1.3 million shares traded per day since Monday, about five times the three month daily average. WorldPort officials declined to comment. Helping to fuel the speculation was Global Crossing Ltd.'s agreement earlier this week to merge with local phone carrier U S West Inc. WorldPort buys undersea-cable capacity from Hamilton, Bermuda-based Global Crossing. Buying WorldPort would allow Global Crossing to bring U.S. and South American voice and data traffic into Europe on its own network, avoiding the fees foreign phone companies charge to terminate transatlantic calls. ''WorldPort has the (public telephone operator) license and the assets'' in Europe, said Vik Grover, senior telecommuncations analyst at Kaufman Brothers LP, who has a ''buy'' rating on WorldPort. ''It would be a slam dunk for Global Crossing.'' Global Crossing Chairman Gary Winnick indirectly owns about 5.9 percent of WorldPort's common stock, WorldPort said in a filing with the U.S. Securities and Exchange Commission. Officials at Global Crossing, the two-year old company that will unite with U.S. West in a $37 billion merger to rival the largest U.S. phone companies, declined to comment. International Network WorldPort has connections to France, Germany, Belgium and the United Kingdom through an agreement with Viatel Inc., which has a European phone and data network. WorldPort also buys network capacity in the U.S. from No. 5 long-distance company Frontier Corp., which Global Crossing has agreed to buy for $12.5 billion. Suburban Atlanta-based WorldPort needs capital to fund its operations and network construction, said Kaufman's Grover. Its $100 million bridge loan from investment bank BT Alex Brown & Sons Inc. is due on June 23, he said. ''They're a viable entity on their own, but it would be preferable to sell out because of their small size,'' said Alan Feldman, an analyst at Sands Brothers & Co. The company had about $30 million in revenue last year, and $18 million in the first quarter of 1999, Feldman said. He is projecting $160 million in revenue for the company this year. WorldPort is a ''a premier takeover target'' because its Netherlands network, EnerTel NV, would help any company looking for European capacity to improve its cost structure and get to market faster, Feldman said. Feldman, who also rates WorldPort ''buy,'' said he believes the company could be sold for $15 to $20 a share. Likely suitors include ICG Communications Inc., Intermedia Communications Inc., STAR Telecommunications Inc. and Global TeleSystems Group Inc., he said, competitive carriers that may be looking to enter or expand their presence in Europe. Intermedia, IXC, WorldPort, ICG and Global TeleSystems declined to comment. STAR officials weren't immediately available.