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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 76.11

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Nov 21 9:30 AM EST

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To: Paul Reuben who wrote (37503)	6/13/2000 7:09:00 PM
From: Ed Forrest	Read Replies (1) of 77400

Tuesday June 13, 3:03 pm Eastern Time Cisco near T.Italia deal--reports MILAN, June 13 (Reuters) - Data networking equipment maker Cisco Systems Inc. (NasdaqNM:CSCO - news) is close to a deal to buy control of Telecom Italia's Italtel in cooperation with a group of private equity partners, Italian news agencies reported on Tuesday. The deal will allow Telecom Italia SpA to maintain a 20 percent stake in the voice technology manufacturer, with Cisco also taking 20 percent and three unnamed funds taking a total of 60 percent, AGI reported from New York, where the Italian telecoms group is on a tour of U.S. investors. No figures were available and Telecom Italia declined to comment beyond reiterating that talks on Italtel's future were ``going forward.'' ANSA news agency said the deal was due to have been announced in the United States during a roadshow that began on Monday, but a last round of talks was needed and a final accord was not now expected for at least a week. Italtel is one of several assets put up for sale after Telecom Italia was taken over by Olivetti following a bitter takeover battle last year. The company is expected to focus on voice telephony over the Internet under the effective control of Cisco, which describes itself as the world leader in Internet networking.

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