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Technology Stocks : Alcatel (ALA) and France
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To: zbyslaw owczarczyk who wrote (3314)5/28/2001 11:00:25 PM
From: PaperChase  Read Replies (1) of 3891
 
I saw this remark in the Reuter's news release about the merger speculation:

""It gives Lucent a clean slate to start over, and it gives Alcatel a big foot in the door in the U.S. marketplace," said independent telecommunications analyst Jeffrey Kagan."

What a riot. LU is worse off than ALA but not by much. ALA has been insulated until now because its sales are mostly in Europe...but the telecom equipment market is now slowing overseas.

ALA receivables (with the vendor financing) are at 180 days. ALA payables are being dragged and are at 90 days. Inventory is balloning and debt is increasing and the scamola with TSIX is painfully obvious. I expect billions in restructuring and one-time write-downs from ALA, independent of any transaction with LU. In fact, I anticipate the charges will exceed those of CSCO last quarter. IMHO, I think ALA is just another ticking time bomb like LU.
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