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Technology Stocks : Nortel Networks (NT)

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To: hari t who started this subject	1/14/2003 1:59:45 AM
From: elmatador	Read Replies (1) of 14638

CDMA expansion project put on hold The Communications Authority of Thailand (CAT) should be privatised and have a new board before proceeding with its 30-billion-baht CDMA mobile phone project, according to the information and communications technology minister. Dr Surapong Suebwonglee has put a hold on the project after questioning its commercial viability and very high cost, according to a CAT executive. The CAT wants its financial adviser, Lehman Brothers, to examine the financial proposals of the Nortel/Real Time consortium, which offered the lowest bid price of 32.7 billion baht. Real Time is a unit of United Communication Industry Plc. The CAT had hoped to sign a contract this month. The minister wanted to know how the CAT would finance the project, the executive said. Nortel Thailand managing director Tom Kruesopon said the original cost estimate of 15 billion baht was a very rough one, and that the revised figure of at least 30 billion accurately reflected leasing costs over a 12-year concession.

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