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Technology Stocks : Newbridge Networks
NN 13.85+6.9%Nov 25 3:59 PM EST
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To: pat mudge who wrote (7050)10/20/1998 4:32:00 PM
From: Greg Spendjian  Read Replies (2) of 18016
 
Somewhat strange news item re TM willingness to sell ...

Canadian Business says Matthews may sell stake

Newbridge Networks Corporation NNC
Shares issued 176,550,858 Oct 19 close $28.25
Tue 20 Oct 98 In the News
Canadian Business magazine says in its Oct. 30 issue that Newbridge
Networks' slumping share price has chairman Terry Matthews railing at
competitors, and hinting that he might be ready to sell. Plugged In
columnist Ian Austen says that Newbridge still has not fully recovered from
its share price meltdown that destroyed $11-billion in equity last winter,
but that does not mean that things are not changing. For example, Mr.
Matthews was open to journalists for the first time at the company's annual
fall conference for investment managers. The man who 10 months ago boasted
that his aggressive approach to competition would make Newbridge one of
international telecommunications' big players hinted that he now might sell
rather than fight. Mr. Matthews did not suggest who the buyer might be, but
Lucent Technologies is weak in all the areas in which Newbridge is strong.
In addition, the company is expected to start a buying spreee because of an
accounting deadline that passed this month.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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