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Technology Stocks : Nortel Networks (NT)

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To: zbyslaw owczarczyk who wrote (9662)	2/15/2001 9:48:18 AM
From: Kenneth E. Phillipps	Read Replies (1) of 14638

Avici Systems Investor Nortel Networks Lowers Stake to 10.1% By Daniel Goldstein Washington, Feb. 14 (Bloomberg) -- Avici Systems Inc. investor Nortel Networks Corp., lowered its stake in the maker of high-capacity computer-networking equipment to 10.1 percent of the common shares outstanding, a regulatory filing said. Ontario-based Nortel Networks now holds 4.8 million shares, down from 6.5 million, or 16.6 percent, held by its U.S. subsidiary Nortel Networks Inc. shortly before Avici went public last July. Nortel, the second largest maker of telecommunications equipment after Lucent Technologies Inc., disclosed the change in a Schedule 13G, which usually doesn't provide details of share transactions or prices. Avici's routers direct Web traffic over large telecommunications networks. Avici shares fell 88 cents to $19.88 today. The shares have lost about 80 percent since the company's IPO last July. The stock reached a record $174.50 in August.

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