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Message subject : Re: CWO

This message was posted by Gail on July 07, 2000 :

In Reply to: CWO posted by max on July 06, 2000 :

: Any news out there that Iím not aware off?

Yes read below..........

C&W Plc & Deutsche Telekom
July 6, 2000

It was reported from several sources overnight that Deutsche Telekom has formed merger & acquisition teams to consider acquiring either the US long distance Sprint Corporation, or the UK-based cable and data operator, Cable & Wireless Plc. Cable & Wirelessís Australian subsidiary, C&W Optus (CWO) has risen 2.0% this morning as analysts evaluate the likely implications of the takeover.

Deutsche Telekom issued a record US$14.6 billion in debt only last week, and it has been suggested that this could fund the cash component of any bid. It was reported elsewhere that Deutsche Telekom has up to US$90 billion to spend, with Sprint worth US$70 billion and C&W Plc worth around US$50 billion.

Sprint is currently facing serious regulatory hurdles in its attempt to merge with Worldcom on anti-trust concerns, which may leave the door open to Deutsche, which took a 10% interest in Sprint some time ago. In addition, Deutsche Telekom has previously stated that it intends to grow with both the US market and Internet / data infrastructure identified as target markets.

At 1024 AEST, C&W Optus is trading 9 cents or 2% higher at $4.97.

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