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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked

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To: Tim Luke who wrote (73282)	11/17/1999 9:21:00 AM
From: kathyh	Read Replies (1) of 90042

good morning tim... you can get pager alerts on your cell phone now so i dont hink you have to have a pager... interesting comments by ericsson pres... Wednesday November 17, 6:45 am Eastern Time INTERVIEW-Ericsson says not against big purchase LONDON, Nov 17 (Reuters) - Swedish telecoms equipment maker Ericsson said on Wednesday it was not necessarily against making a large acquisition if an interesting opportunity came up. ''Nothing is stopping us from doing that (big acquisition) if it's in our interest,'' Ericsson President Kurt Hellstrom told Reuters after an analysts' meeting in London. Ericsson's current strategy is to buy small- to medium-sized companies. But Hellstrom said that if Ericsson, the world's third largest maker of mobile phones and biggest producer of mobile systems did make a big purchase it would have to fit Ericsson's business model. ''If we find an acquisition target which is big then we will of course present it to Ericsson's board,'' Hellstrom said. When asked what a big acquisition would be for Ericsson, Hellstrom said: ''If you're talking about Newbridge then that would be a large acquisition, while ACC was a smaller acquisition.'' Ericsson bought California-based Advanced Computer Communications (ACC) from Canada's Newbridge Networks Corp. (Toronto:NNC.TO - news) (NYSE:NN - news) in 1998 for $285 million. Canadian media have been reporting that Ericsson is interested in buying Newbridge Networks. Last week, Toronto's Globe and Mail newspaper reported that Telefonaktiebolaget LM Ericsson was conducting due diligence on Newbridge ahead of a possible bid for the network equipment company. It cited sources close to the company. Ericsson has declined to comment on that media report. -------------------------------------------------------------------------------- More Quotes and News: Newbridge Networks Corp (Toronto:NNC.TO - news; NYSE:NN - news) Related News Categories: Canadian Market News, US Market News

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