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Technology Stocks : MONI - Marconi Nasdaq ADR

MONI 0.00346

-3.9%

Nov 7 9:30 AM EST

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To: danofthebes who started this subject	3/12/2001 2:28:24 PM
From: ms.smartest.person	Read Replies (2) of 129

Nortel cut out of telco deal By RICHARD BAUM and DAVID HOLMES Reuters News Agency London — British Telecommunications Plc said on Monday it had dropped plans to split a $880.9-million (U.S.) contract for upgrading its network between Nortel Networks Corp. and Marconi Plc in favour of using Marconi alone. A BT spokesman said it made "better sense" to give the five-year contract — for fibre-optic switching equipment for its core transmission network — to a sole supplier. He declined to explain further why it had dropped Canada's Nortel, the world's largest telecoms equipment company. Britain's Marconi said BT took the decision followed "intensive negotiation with the proposed suppliers." "This is quite a helpful announcement that shows Marconi can provide a complete optical solution to clients," an analyst said. "It suggests there is greater robustness in the company's model than the gainsayers are suggesting." The BT deal, first announced as a dual-source contract last year, is part of a plan to increase the capacity of the core of BT's transmission network. Marconi will supply next generation synchronous digital hierarchy and optical dense wave division multiplexing equipment for the UK's dominant fixed-line operator. The BT spokesman said the Marconi deal was based on volume rather than price. The coup may be the best news Marconi shareholders can expect in coming weeks. Analysts and dealers said a trading update from the company was on the cards before its year end later this month, and that it was unlikely to make pleasant reading. "There is increasing pricing pressure and its customers are severely constrained," said one analyst. "Obviously the outlook is pretty poor short term." theglobeandmail.com

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