"88. This came as a shock to Tataruov and Zhukov who were perplexed by Huff's sudden change. Indeed based on prior communication with GTE's management, Tataruov and Zhukov fully expected GTE to accept the money as part of its obligation under the JV agreement and to start installing the wireless system. Huff tried to explain GTE's change of position, but then responded by OFFERING TATARUOV AND ZHUKOV SOME GTE STOCK WITH WHICH THEY COULD "PLAY THE MARKET". Tataruov and Zhukov did not understand what Huff meant by "play the market" and requested that GTE accept the 300 million letter of credit as GTE had previously agreed to do......Huff refused."
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