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Date: Monday, November 15, 1999, 4:46 PM -0500
From: Faulkner Information Services <flash@faulkner.com>
To: ???
Subject: Faulkner Com-Flash 11/15/99 (Part 2 of 3)

Nextel Communications will issues $2.0 billion of its 9.375 percent Senior
Serial Redeemable Notes due 2009 in a private placement. Nextel intends to
use the transaction's net proceeds to repurchase or redeem several series of
its outstanding high yield notes.
	 For the third quarter 1999, Nokia reported net sales of EUR 5037 million,
an increase of 49 percent over the same quarter in 1998. Net profit rose 38
percent to EUR 638 million and diluted earnings per share were EUR 0.39 per
share.
	 Qwest Communications' CEO, Joseph Nacchio, filed SEC documents, asking for
permission to sell about $3.65 million in Qwest stock.
	 For the third quarter 1999, Sprint PCS reported a net operating revenue of
$844 million, an increase of 163 percent from figures reported in the same
quarter a year earlier. Net loss was $615 million, a difference of 249
percent compared to 1998's loss of $176 million. Loss per common share
totaled $1.31, compared to $1.04 per share in 1998.
	 Switchboard, Banyan Worldwide's majority owned Internet subsidiary, filed
	 a registration statement with the SEC for an IPO. Switchboard intends to
have the offered shares approved for quotation on the Nasdaq National Market
under the symbol SWBD.
	 Telecom Italia Mobile announced that profits for the first nine months of
1999 increased 33 percent over results for the same period a year ago to
2.26 trillion lire. Its customer base signed up 4.3 million new clients. It
says penetration of Italy is now at 50 percent.
	 For the third quarter, Teleglobe reported that revenues slipped 18 percent
over results from the same period a year ago to $709.9 million. Net income
was 3.4 million or $0.01 per share, compared to a net income of 66.1 million
or $0.26 per share.
	 V-ONE reported third quarter 1999 revenues of approximately $932,900. This
compares to $2 million last year. Net loss was $2.7 million, or $0.16 per
share, compared to a loss of $1.6 million, or $0.11, a year ago.
	 For the third quarter, Williams Communications reported that revenues
increased 18 percent over results from the same period a year ago to $498.3
million. Of these revenues, the company's Network unit experienced the
largest increase: revenues increased 157 percent to $86 million. Net loss
was $86.9 million, a loss of $0.19 per share.

Internet/Intranet
	 BellSouth deployed its FastAccess Internet service to 30 cities throughout
the Southeast. The company expects the service to be available to seven
million telephone lines by the end of the year, with 11.5 million lines
capable of delivering the service by the end of 2000.
	 The Cisco Customer Interaction Suite was released by Cisco Systems. The
product includes the 3.0 release of Cisco Collaboration Server, Cisco Media
Blender, Cisco Media Manager (formerly Media Router), and the debut of Cisco
eMail Manager. Cisco's expansion into the customer interaction software
marketplace is based on software developed by WebLine Communications,
recently acquired by Cisco.



	 ITXC's SS7 and ISDN will be supported at the company's switching hubs in
New York City and Los Angeles. This buildout more than doubles the network's
capacity. These technical developments aim to reduce the time it takes to
complete calls and increase call completion percentages. Also supported is
the company's network, ITXC.net and features of the PSTN.
	 Oracle and Siemens ICN entered into a joint development agreement to
	 create an Internet standards-based meta directory solution to serve as
corporate white pages for basic information on people, locations, and IT
resources across a network. The directory will be based on Siemens
DirXmetahub meta directory technology and the Oracle Internet LDAP
directory service. The meta directory with interoperate between Oracle
Internet Platform products, e-business applications, Novell Directory
Services, and Microsoft Active Directory.

Legal News
	 A federal judge ordered PairGain Technologies to pay $1.4 million in
	 fines, after the company pleaded guilty to charges of improper record
keeping. The case concerns PairGain's dealings with the now-defunct
brokerage firm Capital Insight and its president, Jay Goldinger.
Prosecutors said PairGain, which claims it lost nearly $16 million from its
Insight investments, willfully failed to establish adequate internal
accounting controls.

Mergers/Acquisitions
	 Arch Communications Group and Paging Network (PageNet) signed an agreement
to merge in a transaction that will create a company with about 16 million
paging units in service throughout North America. The combined company will
retain the name Arch Communications Group. It will be headquartered in
Westborough but will maintain significant operations in Dallas.
	 AT&T will sell its 19.5-percent interest in Utel, a joint venture it holds
with Deutsche Telekom, Dutch Koninklijke PTT Nederland (KPN), and
Ukrtelecom, the state-owned telecommunications monopoly. The buyer is the
Ukrainian government. KPN reported that it also plans to sell it stake to
the government.
	 BEA Systems signed an agreement to acquire The Theory Center, a privately
held, Boston-based software development firm focused on creating Enterprise
JavaBeans (EJB) component solutions. BEA will pay approximately $100 million
in stock and cash, and will integrate The Theory Center's executive
management and staff of 42 into BEA's operations.
	 The purchase of Open Technology Limited (OTL), and enterprise systems
management company from New Zealand was completed by BMC Software. All key
OTL employees will join BMC Software.
	 CenturyTel acquired the assets of ISP, DigiSys. DigiSys will operate as
CenturyTel and all employees will remain in their current positions or be
offered new positions with CenturyTel.
	 Cincinnati Bell closed its $2.2 billion stock deal to buy IXC
Communications. Cincinnati Bell will exchange 2.0976 shares of Cincinnati
Bell stock for each IXC share. Through the IXC buy, Cincinnati Bell is
gaining a high-speed, fiber-optic network.
	 The acquisition of Cerent was completed by Cisco Systems.
	 Commerce One reported that it will acquire on-line auction provider
CommerceBid.com for approximately $227 million in stock at current prices.
CommerceBid.com enables businesses to auction products to the highest
bidder, as well as to hold reverse auctions that let buyers find suppliers
of new goods and secure better prices for items they already buy.

	 Bids placed in the auction of Deutsche Telekom's cable television units
	 are not as high as the company expected. To remedy this, DT altered the
terms of the auction. It will now sell a 35-percent stake in each of the
nine units instead of the originally planned 75 percent. Winners of the
auction will receive management control over the networks. DT will then
take a 40-percent stake in each of the units and sell it as non-voting
stock in an IPO by 2001. Once finished, this plan will leave DT holding 25
percent in each of the companies.
	 Global Crossing's plan to buy the telecommunications business of Racal
Electronics, Racal Telecom, was approved by Racal shareholders. Global
Crossing will pay one billion British pounds for the division.
	 The Excel Switching purchase was completed by Lucent Technologies. The
purchase strengthens Lucent's position in the area of programmable networks,
which allow service providers to enter new markets with applications
developed by third-party developers.
	 Micromuse agreed to acquire Calvin Alexander Networking (CAN), a privately
held developer of network auto-discovery technology. The combined companies
are intended to enable the efficient management of complex network
infrastructures. Micromuse will issue approximately $42 million worth of its
common stock to acquire CAN.
	 NetManage completed its acquisition of Simware. Simware will become the
eBusiness Group of NetManage and will be led by Glen Brownlee, the former
president and CEO of Simware. NetManage is adding the Simware Salvo products
and consulting group to its eN2000-based product family.
	 An agreement was reached under which Marconi Communications, a subsidiary
of the General Electric Company, will purchase Nokia's SDH/DWDM transport
equipment business. Marconi will pay Finnish Marks 430 million in cash on
completion but the final price could reach Finnish Marks 622 million.
	 Periphonics' shareholders approved the acquisition of the company by
	 Nortel Networks. The companies expect to close the deal shortly.
	 SBC Communications agreed to acquire Radiofone, which serves more than
200,000 wireless customers in Louisiana and Michigan. Once the transaction
is complete, SBC will begin deploying digital wireless service in the
Radiofone service areas.
	 A bid for a 25-35 percent stake in TPSA, the Polish telecom was withdrawn
by SBC Communications. SBC did not follow through with its bid, valued at $2
billion, because of unclear regulations in the Polish telecom market. SBC's
withdrawal leaves France Telecom as the sole bidder for TPSA.
	 Telecom New Zealand expected to acquire approximately 40 percent of AAPT
	 by offering its stockholders $3.26 per share. AAPT's shareholders jumped
at the offer, however, and Telecom NZ ended up with 70 percent of the
company by the time the offer ended on Saturday.
	 Tellabs agreed to acquire the software assets of DSP Software Engineering
in order to help ISPs offer voice capabilities. The purchase will be made
for $35 million in cash. Tellabs will merge DSP's software with its AN2100
Gateway Exchange switching system.
	 Vodafone Distribution, a subsidiary of Vodafone AirTouch, acquired
ScottishPower Telecommunications, a joint venture between Scottish Power UK
and Martin Dawes Telecommunications that operates a telecommunications
service provider business in Scotland. The acquisition will be effective
from today, and, with immediate effect, the company has been renamed
Vodafone (Scotland) Limited.

Communications Systems
	 Inter-Tel released its AXXESS software version 5.1, which expands
transparent PBX networking capability up to 63 systems and 20,000 system
ports. Lucent Technologies released its DEFINITY ONE Communications Server,
	 a Windows NT-based platform that offers that same management capabilities
and applications as the large DEFINITY systems. DEFINITY ONE has five
applications built onto a single circuit pack: DEFINITY Release 7.1; Intuity
AUDIX voice mail system; fax messaging; Intuity Message Manager; and
DEFINITY Site Administration (DSA). DEFINITY ONE provides users the choice
of moving voice and fax over circuit-switched, IP, or ATM networks. The
server supports 168 stations and trunks and is ideal for offices with fewer
than 50 employees.

Personnel and Organizational Changes
	 Advanced Radio Telecom's chairman and CEO Henry C. Hirsch retired on
November 1, 1999. The company's board of directors expects to name a
replacement before the end of the year.
	 AT&T will establish a Latin American unit, consisting of the Brazilian
Netstream, which it is in the process of acquiring, and FirstCom, which has
units in Chile, Colombia, and Peru. With its Brazilian partner, Promon
Technologia, AT&T will chip in Netstream and $70 million in cash towards the
new company, which will be known as AT&T Latin America. AT&T will have a
60-percent stake, Promon Technologia a six percent interest, and former
FirstCom shareholders will own about 34 percent.
	 Bell Atlantic and GTE announced the planned organization of the merged
companies and designated six executives to fill top positions once the
transaction is completed. GTE Chairman and CEO Charles R. Lee and Bell
Atlantic Chairman and CEO Ivan Seidenberg will be co-CEOs and chairman and
president, respectively. Bell Atlantic president and COO Lawrence T. Babbio
will continue in his position of president and vice chairman of the
company's wireline business. GTE vice chairman and president of GTE
International Michael T. Masin will also assume the role of president as
well as vice chairman for international services. Bell Atlantic senior
executive vice president and CFO Frederic V. Salerno was appointed CFO of
the new company and will also head the corporate finance group. Dennis F.
Strigl, current chairman and CEO of Bell Atlantic's Global Wireless Group,
was appointed executive vice president of the new company and president of
its domestic wireless business. William P. Barr was designated executive
vice president and will head up the Legal, Regulatory, and Government
Affairs group. J. Randall MacDonald will act as executive vice president of
human resources. The new company will be headquartered in New York City.
	 Also, three Bell Atlantic executives plan to leave when the company closes
its merger with GTE. Bell Atlantic President and COO James G. Cullen and
executive vice president of Human Resources and Labor Relations Donald J.
Sacco will retire after 35 years with the company. Morrison DeS. (Toby)
Webb, current executive vice president of External Affairs and Corporate
Communications, resigned, effective following the closure of the proposed
merger. Webb is staying with the company through the merger proceedings at
the request of Chairman and CEO Ivan Seidenberg.
	 BT plans to split its wireless and paging operations into a separate
business units. BT says this move is a condition of its purchase of mobile
provider Cellnet. Under terms laid out by UK regulators, the carrier must
provide separate accounts for BT Mobile, BT Paging, and BT Cellnet
operations. It also must follow similar steps if it gets involved in any
third-generation mobile service offerings.
	 CheckFree opened its new Contact Center in Phoenix, Arizona. Employees at
the Phoenix location will handle inbound calls from subscribers and partners
and outbound payment research. CheckFree associates will also be available
to support overflow calls whenever necessary.
	 Inmarsat appointed two new Board directors, John Rennocks and Artur
Schechtman. Rennocks, who becomes an Independent Director, is Executive
Director - Finance for Corus Group, the steel company formed out of the
merger betweeen British Steel and Koninklijke Hoogovens NV. Schechtman
replaces Board member Firton Acha who recently resigned following a career
move. Schechtman is Embratel's Regional Manager for Europe and Asia, with
overall responsibility for the relationships -- commercial, financial,
technical and operational -- with the administrations and carriers of those
regions.
	 In a decision that was a long time coming, INTELSAT's 143 member
	 government unanimously decided that INTELSAT shall privatize. The
Assembly's decision resulted from its desire to restructure the
organization in a manner which guarantees its continued commercial
viability, while at the same time, maintains protection of those countries
that rely on INTELSAT as their lifeline communications link to the rest of
the world. The Assembly decided that INTELSAT should be restructured as a
corporation with an optimal tax, regulatory, and operational structure
without privileges and immunities. Loral Space & Communications president
	 and CEO, Dr. Gregory J. Clark, will leave his position effective December
1, 1999. Dr. Clark, who joined the company in January 1998, will remain as
a consultant to Loral. Dr. Clark's responsibilities are being assumed by
Eric Zahler, Loral's executive vice president, and Robert Berry, senior
vice president of Loral and chairman, Space Systems/Loral.
	 Lucent Technologies will cut its US work force by 1700 jobs. This amounts
to approximately one percent of the work force, which currently totals
153,000. About 280 of these jobs will disappear as a result of the closure
of two billing and ordering centers, located in Arizona and Maryland. The
work load formerly handled by these centers will be distributed to other
such locations. Lucent is also asking its 7000 business phone technicians
for volunteers to leave, promising that over two-thirds of them are eligible
for full pension benefits.
	 A new Global Mobile Commerce Team was formed by MasterCard. The initiative
focuses on converging the card payments and mobile telephony industries.
MasterCard is collaborating with member financial institutions, handset
manufacturers, and network operators to facilitate online payments through
mobile devices.
	 Nortel Networks appointed John A. (Ian) Craig as executive vice president
and chief marketing officer, effective November 1, 1999. Craig succeeds F.
William Conner, who was appointed executive vice president and president,
Enterprise Solutions.
	 Carl S. Ledbetter was appointed by Novell as senior vice president,
Business and Corporate Development. Ledbetter joins Novell from Hybrid
Networks where he was chairman and chief executive officer.
	 VocalTec Communications' board of directors has enlisted a new member,
chairman, CEO, and founder of PSINet William L. Schrader. Schrader assumed
the existing director position recently vacated by Tom Evslin, chairman and
CEO of ITXC.
	 Vodafone AirTouch appointed Professor Sir Alec Broers as a non-Executive
Director with immediate effect. Professor Sir Alec had previously been a
member of the Vodafone Group Board, and had stood down following the merger
between Vodafone and AirTouch Communications, which was completed on 30 June
1999. Since that time he has held the position of Director Emeritus of
Vodafone AirTouch, an advisory position without formal Director status.
Faulkner Information Service
Flash Account
flash@faulkner.com
114 Cooper Center
Pennsauken, N.J. 08109
(609) 662 2070
http://www.faulkner.com



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