Lucent Technologies (LU) Message Board

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Technology Stocks : Lucent Technologies (LU)

LU 2.550

+2.4%

Dec 1 3:59 PM EST

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To: bofp who wrote (21022)	10/22/2002 9:26:28 PM
From: John Soileau	of 21876

China and Asia are great announcements, especially in these desert-like conditions. But LU wireless contracts elsewhere are winding up as they move through 2003, and big wins like these are needed for LU to just stand in place. Maybe that's why there's no excitement at the announcements. You're absolutely right about repurchasing the converts. It was ridiculous to be prevented from buying them back--when is it not a good deal to receive a buck and repay 30 cents? Killing the credit line was not at all a bad move IF they actually do use some cash to buy back converts. I don't see it as a matter of choice anyway; they CANNOT let them convert to shares, and they won't have cash, so they really must buy back. Besides, after they buy back, I think LU will likely have another credit line (although maybe only 750M or so) in place again. Post-buyback, it would be a less dangerous company to own, and probably the share price will reflect that. John

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