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Technology Stocks : Orckit (ORCT)

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To: D.J.Smyth who wrote (907)	2/3/1998 10:10:00 PM
From: savolainen	Read Replies (2) of 1998

[maybe orctf will go shopping??] Hi Darrell, a buyout seems very unlikely... as you pointed out orctf's management can call the shots with 65% of outstanding shares ... don't know why they would want to sell now... as was said in the conference call, it took something like two years of negotiations to set up their current alignment of (great) partners... now that it looks like they've got some good cards, why not play out the hand (1-3 years)... an investment in orctf via a secondary by either one of their current partners or maybe someone new (like a compaq) does not seem so far fetched... and along those lines... from the post article: >>..Shoham said that the visitors (compaq), who are based in Germany, expressed interest in investing in R&D in Israel..<<. maybe shlomi can fill us in on some of the details of the secondary if they are available.. in the big picture, still think the missing piece is a distribution partner... the equipment seems more or less covered, the silicon is covered, but the customer end seems open... still think either a boxmaker or modem maker (or both? <g>) would fit the bill well... if indeed a secondary is coming would think such an event would be well served, by a significant announcement (or two)... and beyond these issues is another interesting question: why does orctf need more $ ? right now they have something like $30 million cash (which is not being burned)... if the secondary brings in say another $20 million (for the company)... maybe orctf will go shopping? fwiw s

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