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Technology Stocks : Newbridge Networks

NN 14.04

-1.2%

Dec 1 3:59 PM EST

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To: Bruce Evans who wrote (6127)	8/25/1998 11:07:00 AM
From: pat mudge	Read Replies (1) of 18016

With regards to the affiliate program: in some cases, I believe, the affiliates are spun off because their business is not a particularly good one, and Newbridge wants it off their (NN) books. By holding less than 50 per-cent (while Terry individually holds enough more to guarantee control) Newbridge doesn't have to put the affiliates on its balance sheet. Isn't this a contradiction? If NN doesn't have the affiliates on their books, they don't have to be spun off to get them off the balance sheets. I was told CrossKeys was the first to be spun off because it was the star and I assumed they wanted a winner going out the gate. The market's been cruel to CKEYF, but like so many other quality small caps, it'll reverse eventually. As for technical people leaving,the affiliates, going public is the incentive they need to stay. I'm certain we'll see more. What do you mean by "they're not all Cambrians?" I believe NN holds about 45%, if ownership is your question. Later --- Pat

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