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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF
COMS 0.00130-23.5%Nov 7 11:47 AM EST
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To: Scrapps who wrote (21076)10/18/2000 6:00:30 PM
From: Moonray  Read Replies (1) of 22053
 
I guess to be "Efficient", one would have to buy CS:
Cabletron's assets hit by Efficient Networks' decline
Wednesday October 18, 5:15 pm Eastern Time

BOSTON, Oct 18 (Reuters) - The holdings of Cabletron Systems
Inc's (NYSE:CS - news) tumbled on Wednesday when shares of
Efficient Networks Inc (NasdaqNM:EFNT - news), which represents
about 29 percent of Cabletron's total assets, dropped 37 percent.

Based on Cabletron's reported holdings in late September, the
$16-9/16 drop in the price of Efficient's stock on Wednesday
would decrease the value of Cabletron's assets by $179 million.
The company reported total assets of $1.9 billion at the end
of September.

Cabletron's Efficient holdings were worth about $555 million
in early September and $1.7 billion in February, according to
the U.S. Securities and Exchange Commission filing.

Shares in Dallas-based Efficient Networks closed down 37 percent
to $28-1/2 in Wednesday trading on the Nasdaq exchange.

Rochester, N.H.-based Cabletron (NYSE:CS - news) reported in
early September it owned 10.8 million Efficient shares. It
closed down 1-13/16 or 7 percent to 25-3/16 in New York Stock
Exchange trading on Wednesday.

Cabletron did not return phone calls seeking comment.

The Internet equipment maker said it sold about 660,000
Efficient shares, at prices in the high $50s, during the
fiscal second quarter that ended Sept. 2. The company then
said it was working closely with Efficient's management to
sell its holdings in a ``rational manner,'' while remaining
a significant investor and strong supporter.

Cabletron received the stock in December 1999 as part of its
sale of a subsidiary to Efficient Networks.

o~~~ O
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