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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00130

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Nov 7 11:47 AM EST

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To: FNS who wrote (39446)	2/17/2000 12:45:00 PM
From: Mang Cheng	Read Replies (1) of 45548

"Siemens: Report Of Stakes In 3Com, Newbridge "Pure Rumor"" Dow Jones Newswires -- February 17, 2000 FRANKFURT -- Siemens AG (G.SIE) said Thursday a report claiming it plans to take stakes in 3Com Corp. (COMS) and Newbridge Networks Corp. (NN) and form a joint-venture company is "pure rumor." The report was published in an advance copy of monthly magazine Finanzen and cited well-informed banking sources. "We have close partnerships with 3Com and Newbridge Networks, and these rumors surface recurrently," said a Siemens spokesman. Siemens and Newbridge have a joint product line in the area of broadband solutions for Internet service providers, and 3Com is a partner and a supplier to Siemens in this area, the spokesman said. The Finanzen report said the companies are in intensive talks about a stock swap. A U.S. listing of a joint network company in which the three partners would have indirect holdings is the most likely solution, the report said. Such a move is designed to strengthen their competitive position against rivals such as Cisco Systems Inc. (CSCO) and Lucent Technologies Inc. (LU), the report said. Last year, plans by Siemens and 3Com to form a joint venture collapsed. -By Angela Cullen; 49 69 2972 5500; angela.cullen@dowjones.com

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