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Technology Stocks : Lucent Technologies (LU)

LU 2.725

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Jan 7 3:59 PM EST

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To: William Hunt who wrote (6245)	2/15/1999 12:24:00 PM
From: elmatador	of 21876

Regarding Saudi: On 1999-01-18, bidders for the telephone expansion project 8 (TEP-8) have been requested by Saudi Telecommunications Company (STC) to submit new prices by 15 February. Six international firms submitted offers for the scheme in late November. Tha's why I thought the evaluation had been completed. The bidders are Sweden's Ericsson, Germany's Siemens, France's Alcatel, Canada's Nortel, the US' Lucent Technologies and NEC of Japan. It is not clear whether all six firms will resubmit bids. STC has not given an explanation for the resubmission of bids. However, since the six prequalified firms were only given a month to prepare offers in November, many of the bids submitted may well have been incomplete. STC had rejected requests for an extension of the closing date.

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