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Technology Stocks : Lucent Technologies (LU)

LU 2.570

-3.0%

Nov 17 3:59 PM EST

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To: Chuzzlewit who wrote (11886)	12/22/1999 11:19:00 PM
From: stilts	Read Replies (2) of 21876

Chuz, I'm afraid you're not reading it closely enough. It says that the unaffiliated entities who paid cash to the SPV are entities managed by banks. It does not say that the banks manage the pool of receivables: " Lucent sold approximately $625 million of accounts receivable to a non-consolidated qualified special purpose entity ("QSPE") which, in turn, sold an undivided ownership interest in these receivables to entities managed by an unaffiliated financial institution." The bottom line is, Lu got cash.

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