BAY Ntwks (under House) Message Board

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Technology Stocks : BAY Ntwks (under House)

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To: Paul Fine who wrote (6544)	6/15/1998 8:21:00 PM
From: Anthony Wong	Read Replies (2) of 6980

Market Doesn't Appreciate Bay Ntwk Deal, Nortel Chief Says June 15, 1998 5:23 PM NEW YORK (Dow Jones)--The acquisition of Bay Networks Inc. (BAY) will help Northern Telecom Ltd. (NT) expand its reach into the data networking market, according to Nortel Chief Executive John Roth. In a joint appearance on CNBC Monday with Bay Networks Chief Executive David House, Roth said the changing networking market provides a ripe arena for Nortel's future plans. Market players, though, gave Nortel's plan to acquire Bay Networks a lukewarm reception, sending Nortel shares down sharply. Roth suggested the market may not fully appreciate the manner in which the Bay Networks deal will help Nortel expand in this area. For his part, House tried to dispel speculation that the market's reaction to the deal might be rooted in fears that Bay Networks will not meet earnings estimates. While noting the company is in a quiet period, House said before the period began he had expressed confidence in Wall Street's expectations. -Nancy Beiles; 201-938-5393

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