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To: daneo who wrote (47917)	2/20/2001 8:59:39 AM
From: cometguy	Read Replies (2) of 62348

Except that JDS may sue: The National Post reports in its Tuesday, Feb. 20, edition that JDS Uniphase Corp. is considering launching a lawsuit against Nortel Networks in the wake of a stunning profit warning issued last week by Nortel. The National Post's Theresa Tedesco writes that last week, Nortel closed a $3-billion (U.S.) deal with JDS Uniphase. Under the terms of the deal Nortel gave JDS $2.5-billion (U.S.) worth of Nortel stock immediately with the remaining amount to be paid in 2003. Two days later, on Feb. 15, Nortel issued a profit warning. That news sent Nortel's share price tumbling by one-third, shaving about $1-billion (U.S.) off last week's deal with JDS. Unnamed sources say the Ontario Securities Commission is also reviewing the deal. JDS chief financial officer, Anthony Muller, says it was a "considerable shock" to hear about an "earnings warning 48 hours after we had effectively got a large block of Nortel stock." Unnamed sources say the OSC is probing the timing of Nortel's public disclosure about its financial affairs. Nortel is mum on whether it would reconsider the terms of the deal.

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