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Technology Stocks : Newbridge Networks

NN 16.41

-1.8%

Dec 12 3:59 PM EST

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To: zbyslaw owczarczyk who wrote (15022)	11/23/1999 4:53:00 PM
From: zbyslaw owczarczyk	Read Replies (1) of 18016

Stockholm, Nov. 23 (Bloomberg) -- Ericsson AB, the world's No. 3 maker of cellular phones, said it won't enter a bid to buy Newbridge Networks Corp., a Canadian maker of networking equipment that's considering a sale. ''As it stands now, we're not interested in buying Newbridge,'' Ericsson spokesman Gary Pinkham said. ''I don't know that we've ever been interested.'' Ericsson as recently as today has been mentioned as a possible suitor for Newbridge, which last week hired Morgan Stanley Dean Witter & Co. to explore options for its ailing business. Newbridge shares rose C$1.15 (US$0.78) to C$33.20. Ericsson's U.S. shares fell 5/8 to 47 1/4. NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min.

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