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Technology Stocks : Ascend Communications (ASND)
ASND 205.50-1.5%Dec 5 9:30 AM EST
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To: Sector Investor who wrote (33419)2/5/1998 8:25:00 AM
From: Glenn D. Rudolph  Read Replies (1) of 61433
 
KDD says no threat in NTT's undersea cable move

Reuters Story - February 05, 1998 02:25
%JP %TEL %GB %US 9431.T 9432.T CW.L WCOM V%REUTER P%RTR

TOKYO, Feb 5 (Reuters) - Kokusai Denshin Denwa Co
said on Thursday that Nippon Telegraph and Telephone Corp's
entry into the undersea cable engineering business
posed no threat to KDD's own business.
NTT said on Wednesday it had linked up with a unit of Cable
and Wireless Plc to undertake undersea cable operations
to tap the growing demand for telecom services in Asia.
"NTT's new unit does not compete with our unit, KDD
Submarine Cable Systems Inc, which has expertise in systems
integration that the C&W unit does not have," KDD president
Tadashi Nishimoto told reporters.
NTT said it would spin off its small undersea cable section
to form a wholly owned unit by the end of March. C&W Marine Ltd
would later acquire a 25 percent stake in the new unit through a
third-party allocation.
KDD owns two undersea cable engineering units, which provide
a major source of income for the telecoms group.
KDD's Nishimoto said his company could compete well with the
foreign telecom companies that will begin entering the Japanese
market following the lifting of foreign ownership restrictions
in the industry.
The deregulation was agreed at the World Trade Organisation
and took effect on Thursday.
The Ministry of Posts and Telecommunications said U.S.-based
WorldCom Inc on Thursday applied for a license to
operate telecoms facilities in Japan.
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