I don't believe the blame lies with Bloomberg. Bloomberg just reiterated, today, that Alacatel was about to complain to U.S. authorities about the deal. Alcatel is playing games, not Bloomberg. I wonder if Paul Harrison, VP of Alcatel, had a position in JDSU or ETEK at the time of his statement to Bloomberg. That would be worth DOJ scrutiny.
Alcatel Says It Hasn't Filed Opposition to JDS, E-Tek Merger
3/23/00 8:32:00 AM
Source: Bloomberg News
URL: cnetinvestor.com
Paris, March 23 (Bloomberg) -- Alcatel SA, Europe's No. 2 phone-equipment maker, said it hasn't filed any opposition with U.S. antitrust authorities to the proposed $20.3 billion merger between JDS Uniphase Corp. and rival E-Tek Dynamics Inc.
'Any discussions involving Alcatel with the Justice Department have been to provide factual industry information requested by the Justice Department,' Alcatel said this morning.
Paris, France-based Alcatel, which is E-Tek's No. 1 customer, said yesterday it would complain to U.S. antitrust enforcers that JDS Uniphase would have too much power to raise prices if the purchase is allowed to go through.
The U.S. Department of Justice is scrutinizing the proposal and interviewing customers of both companies to determine whether the acquisition would hurt competition in the market for parts that boost the capacity of fiber-optic networks.
E-Tek shares rose 16 3/8, or 7.3 percent, to 242 5/16 in late morning trading. JDS Uniphase fell 1 7/8 to 129. Alcatel American depositary receipts, which represent one-fifth of an ordinary share, fell 5/16 to 43 7/8. |
