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Technology Stocks : LCCI went public today and is going up!!
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To: james hayden who wrote (38)4/3/1997 9:16:00 PM
From: Jean Muehlfelt   of 143
 
This is what I found on the newswire yesterday. Thought you'd enjoy it:

STOCKHOLM, Sweden--(BUSINESS WIRE)--April 2, 1997--According to a press release sent out by Pocket Communications Inc., (Pocket) on April 1st 1997, Pocket has filed for court protection under Chapter 11 of the U.S.Bankruptcy Code in the U.S. Bankruptcy Court for the District of Maryland, Northern Division.

In the release of April 1st, Pocket states that the company has secured commitments for more than $646 million in financing to
build out its PCS networks from vendors including Ericsson, Siemens Stromberg-Carlson and Nortel, and has completed agreements with Ericsson and Nortel for $481 million of that financing.

Ericsson views this move positively and believes it will give Pocket the opportunity to improve the company's business.

It is correct that Ericsson has a commitment for vendor financing for part of the $481 million mentioned in the Pocket release. The vendor financing is related to the supply of equipment according to a frame agreement. These deliveries have not yet taken place to any significant degree, which means that Ericsson will not be significantly affected financially. Furthermore, the sum
mentioned above has not yet been listed as a firm order by Ericsson.

Ericsson's 90,000 employees are active in more than 130 countries. Their combined expertise in fixed and mobile networks,mobile phones and infocom systems, makes Ericsson the world-leading supplier in telecommunications.
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