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Technology Stocks : Newbridge Networks

NN 11.91

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To: pat mudge who wrote (12864)	8/19/1999 1:17:00 PM
From: larry pollock	Read Replies (1) of 18016

Thursday August 19, 9:10 am Eastern Time Nortel Networks picked as Cable & Wireless supplier TORONTO, Aug 19 (Reuters) - Nortel Networks Corp. (Toronto:NT.TO - news) said on Thursday it had been chosen as the exclusive systems integrator and prime contractor for a billion-dollar global network expansion by Cable & Wireless Plc. (quote from Yahoo! UK & Ireland: CW.L) Nortel, a communications equipment maker based in Brampton, Ontario, said the deal with Britain's Cable & Wireless is worth $400 million. Telecommunications concern Cable & Wireless plans to begin expanding in Europe by providing high-speed communications services to more than 40 cities in 13 nations. Nortel, which makes equipment to push data, voice and video over the same line, will deliver and manage an Internet network. The global telecommunications industry has undergone rapid change since the arrival of the World Wide Web, with companies fighting to increase service to meet burgeoning demand. Canada's Nortel is undergoing a three-year reorganization and aiming for a major slice of the surging Internet market. ($1=$1.49 Canadian)

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