IP: Buffett Gets telecom religion

[David Farber <dfarber@earthlink.net>]

-----Original Message-----
From: "Meeks, Brock (MSNBCi)" <Brock.Meeks@MSNBC.COM>
Date: Mon, 8 Jul 2002 07:07:18 
To: "'farber@cis.upenn.edu'" <farber@cis.upenn.edu>
Subject: Buffett Gets telecom religion


An interesting story that may be buried today among a host of other
financial news (WorldCom execs testifying on the Hill; Merck overbooking
$12.4 billion in revenue; eBay buying PayPal) is the fact that wizard
investor Warren Buffett's Berkshire Hathaway, Inc. is going to be investing
some $500 million into battered telecom company Level 3.

Buffett has steadfastly refused to invest in telecom (and tech) over the
years and suddenly, he's taking a leap into Level 3.  

The Wall Street Journal broke the story today; it could be a very important
story to follow.

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