IP: Deutsche Telekom.

[Dave Farber <farber@cis.upenn.edu>]

When the Germans bid 53 Billion they would be paying $20,000 per 
subscriber. If one uses that valuation for Bell Atlantic with 25 million 
wireless subscribers , that is $500 Billion . Te market values the whole BA 
at $120 Billion. ATT based on their wireless subscribers would be worth $ 
billion, market is $120 Billion.

Clearly they should find a foreign ber for their wireless.

Real issues raised by this game.

Dave