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Technology Stocks : Nortel Networks (NT)

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To: hari t who started this subject	9/7/2001 3:26:20 PM
From: Kenneth E. Phillipps	Read Replies (1) of 14638

Nortel says not open to takeover Fri Sep 07 14:56:00 EDT 2001 CALGARY, Alberta, Sept 7 (Reuters) - The head of Nortel Networks Corp. (NYSE:NT) said on Friday the telecommunications maker was not open to a merger or an acquisition by another firm. Speaking after a round table in Calgary, Nortel Chief Executive Officer John Roth said Nortel was "not open to combining companies." Shares of Nortel were higher on Friday after a recent report by brokerage house RBC Dominion said that Nortel Networks was going to be bought by Cisco Systems (NASDAQ:CSCO). According to one Toronto trader the report read: "These two (companies) apparently have been eyeing each other up for the last two years and this is the perfect opportunity for Cisco to step-in and buy Nortel." Shares in Nortel were up 15 cents at $5.51 in New York on Friday afternoon, and up 29 Canadian cents at C$8.64 in Toronto. Copyright 2001, Reuters News Service

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