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Technology Stocks : 360Networks - TSX - TSIX
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To: James Calladine who wrote (269)5/30/2001 2:16:57 PM
From: Dexter Lives On  Read Replies (1) of 449
 
Alcatel said it was taking a 3 billion euro charge to write off the value of a $700 million investment it made in 360networks Inc. convertible bonds. Earlier this month, Vancouver-based 360networks canceled a $1.1 billion order for Alcatel.

I'm surprised at how well the price is holding up - clearly the market did not expect Alcatel to provide the $300M... Who then? I'd like to pick up a few shares but will hold off until management discloses its updated plans and the financial backers.

Regards, Rob
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