JDS Uniphase (JDSU) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : JDS Uniphase (JDSU)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: t2 who wrote (11716)	7/24/2000 5:55:12 AM
From: Bill Holtzman	Read Replies (1) of 24042

News on NT - possibly selling optics unit to Corning! biz.yahoo.com NEW YORK, July 24 (Reuters) - Network equipment companies Nortel Networks (NYSE:NT - news) and Corning Inc. (NYSE:GLW - news) are in talks about a deal worth more than $100 billion that would involve Nortel selling its optical-parts unit to Corning, the Wall Street Journal reported Monday. In its electronic edition, the Journal said a deal is not imminent and the talks could break down. The deal would be primarily a stock swap and could result in Nortel owning more than 50 percent of Corning, while Corning would own the optical parts unit and maintain its independence, the Journal said, citing unnamed sources. A spokesman for Corning declined comment and Canada's Nortel said it does not comment on speculation, the newspaper said. Nortel's optical-components business has revenue of about $1 billion by some estimates, the Journal reported. The $100 billion price tag may be partly based on the unit's rapid growth, the newspaper added. Nortel's U.S.-traded shares closed Friday at 80-13/16, just below a year high of 81-5/16 and up from a low of 19-7/8. Corning shares ended at 283-3/4, off a high of 286 but up from a low of 60-5/16.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next