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Technology Stocks : BAY Ntwks (under House)
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To: Bob Howarth who wrote (6924)8/9/1998 4:22:00 PM
From: devans   of 6980
 
I'm a Canadian and trade through the Bank of Montreal's Investorline on the Web. On one of Newbridge Networks' (tse:NNC / nyse:NN) numerous dips, I only had $U.S. cash handy so I put in an order for NN on the nyse with a limit expressed in US$. The order went thru at the nyse price and the US$'s came out of my account. However the shares show up in my account as NNC shares. Interestingly enough, in my account statement the shares don't show up consolidated with the NNC shares I had purchased previously with CDN$, they show up as two separate batches of NNC shares. Anyhow, I haven't sold them yet so I don't know for sure what the answer to your question is, but based on my buying experience, I'd say you could sell your Nortel shares on the nyse with a US$ limit and settle in US$'s.

On a related note...Don't even think of selling! NT/BAY is the best positioned datacom company out there! LU gets too much credit and if you look deeper they have barely started getting products together to build the new networks...CSCO is still really only an enterprise company and ASND isn't big enough to trust a really big carrier scale (PSTN scale) network to just yet. LU+ASND would be a force 'though!, but again (in spite of what CSCO says about one stop shopping) you don't sole-source a huge network on the scale of the PSTN. NT+BAY, LU+???, and CSCO will all do well in the future, and today NT+BAY offers the best value.
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