Alcatel (ALA) and France Message Board

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Technology Stocks : Alcatel (ALA) and France

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To: Steve Fancy who wrote (9)	9/25/1998 3:01:00 PM
From: Steve Fancy	of 3891

Alcatel Board Approves Up To 10% Share Buyback PARIS (Dow Jones)--The board of directors of French telecommunications company Alcatel SA (ALA) Monday gave company chairman Serge Tchuruk approval to launch a buy-back of up to 10% of the company's shares. Tchuruk on Friday said he would propose the buy-back in an effort to shore up Alcatel's shares. Those shares plunged 38% on Thursday after Tchuruk issued an unexpected profit warning. "The board considers Alcatel's current share price undervalues the company," Alcatel said in a statement. Alcatel shares have continued to fall since Thursday. Friday, they fell 2.8%, and at 1042 GMT Monday they were down 5.4%, or FRF30, at FRF525. Tchuruk will head to New York later Monday to meet with investors and analysts. He held an analysts' meeting in Paris on Thursday and a meeting with fund managers in London on Friday. Some former DSC Communications Inc. shareholders have already filed suit against Alcatel alleging the company violated federal securities laws. Alcatel completed its share-swap takeover of DSC in early September.

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