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[sharechat] TEL- pass for now

From:	Chris <cd@ak.planet.gen.nz>
Date:	Tue, 22 Aug 2000 16:06:59 +1200


TEL looks attractive at under 700c but getting past the 700-740 range is 
going to be hard work when you consider forthcoming activity in its' 
sector.

TLSCB holders need to pay the balance in Nov and Vodafone Pacific floats 
in Oct.  The call for cash is huge and no matter how wonderful TEL may 
look(?) the institutions and funds will be keeping those two offerings in 
mind when considering TEL.

Consequently, I think upside is limited in the short term.  Any other 
input on this?

CD 

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