Glad to see I'm rong.
The latest on Ericy & Ascend:
Sweden's Ericsson Could Seek to Acquire Ascend, Analysts Say
Stockholm, June 17 (Bloomberg) -- Ericsson AB, a Swedish telecommunications
equipment maker, may acquire Ascend Communications Inc. as the U.S.
computer-networking company is one of the few strategic acquisition targets left for
Ericsson after Canadian phone-equipment maker Northern Telecom Ltd. agreed to buy
Bay Networks Inc., newspaper Dagens Industri said, citing analysts. ''Ericsson should
make a bigger acquisition to stay on the U.S. map -- Ascend is its last chance,'' said
Anders Elgemyr, an analyst at Fischer Partners. ''But if Bay was too expensive,
(Ericsson) probably thinks Ascend is too.'' Ascend's market capitalization is about 80
billion kronor ($10 billion), while Bay's market value is about 55 billion kronor, the paper
said.
With operations in data and telecommunications becoming integrated, Ericsson Chief
Executive Sven-Christer Nilsson has said he expects to make acquisitions in the data
communications industry in the year ahead, citing small or medium-sized U.S. data
companies as the most likely targets. (Dagens Industri 6/17 9 www.di.se)
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