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Technology Stocks : Ciena (CIEN)
CIEN 191.61-0.1%4:00 PM EST
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To: professor who wrote (3210)9/16/1998 6:23:00 PM
From: Frank A. Coluccio  Read Replies (1) of 12623
 
Pirelli added to Ciena's woes by winning a $240 million contract
from Digital Teleport to be the carrier's primary supplier of WDM
equipment and exclusive provider of fiber-optic cable.

broadband-guide.com
Ciena previously had been Digital Teleport's sole WDM supplier. Pirelli will
supply 80% of the WDM hardware Digital Teleport will use in the
final 16,500 mi of its planned 18,500-mi coast-to-coast U.S.
network. The network will comprise 19 regional rings connecting
cities in 37 states. The WaveMux WDM equipment the manufacturer
will provide is valued at $100 million; the cabling represents the
contract's remaining $140 million.

The announcement sent Ciena shares tumbling once again on Wall
St. Tellabs made no statements regarding how the news might affect
its plans to acquire Ciena. Tellabs had reduced its offer for the
company from $7.1 billion to $4.7 billion after AT&T announced
that it would not evaluate Ciena's 40-channel DWDM system for use
in its networks.
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