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Non-Tech : The Critical Investing Workshop

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To: cowgirl-ona-1eyed-horse who wrote (26758)7/27/2000 9:49:45 AM
From: Dealer  Read Replies (1) of 35685
 
GLW/NT--Thursday July 27, 9:46 am Eastern Time

Corning says ends optical deal talks with Nortel

NEW YORK, July 27 (Reuters) - Fiber-optic cable maker Corning Inc. (NYSE:GLW - news) said on Thursday it ended talks about buying Nortel Networks Corp.'s (NYSE:NT - news) (Toronto:NT.TO - news), optical components business by mutual agreement with the Canadian company.

``We have and will continue to have a close working relationship with Nortel,'' Corning chief executive Roger Ackerman said in a statement.

Additionally, Corning said it expects sales in its photonic technologies unit to grow by 100 percent this year.
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