Exhibit 23(e) MCDONALD & COMPANY SECURITIES, INC. Member New York Stock Exchange MCDONALD INVESTMENT CENTER 800 SUPERIOR AVENUE CLEVELAND, OHIO 44114-2603 216-443-2300 March 10, 1997 PERSONAL AND CONFIDENTIAL - ------------------------- Board of Directors The Woodbury Telephone Company 200 Main Street South Woodbury, CT 06798 Ladies and Gentlemen: We hereby consent to the inclusion of our opinion in the Prospectus/Proxy Statement included in this Registration Statement, and to the references to our firm contained therein. Our consent should not be construed as an admission that we are a party from whom a consent is required under Section 7 of the Securities Act of 1933. Very truly yours, McDONALD & COMPANY SECURITIES, INC. By: /s/ William R. Koehler ----------------------- William R. Koehler Vice President