Hi Steve - I have scanned all of the EDGAR Form SC 13G and SC 13G/A filings for both Tellabs and AFCI and did not see that Tellabs sold their AFCI's holdings. The last filing by Tellabs was on February 17, 1998 that showed they owned 6,340,234 shares of AFCI which represented 8.7% of the stock.
(http://www.sec.gov/Archives/edgar/data/898805/0000317771-98-000006.txt)
I crossed checked this with another service that shows all the current AFCI's filings (updated daily) along with the most recent mutual funds purchases and sales. Putnam was both a buyer and seller and Fidelity (FMR) was a new buyer as late as November 10, 1998.
I also checked all the Tellabs filings and noticed that their only large sale was of CIEN stock (9/16/98). I believe Tellabs disposed of 6,913,025 shares of CIEN. Their only other filings represented transactions for Coherent Communications which they merged with earlier this year.
To Summarize:
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I believe there is another connection we can add to our list with Tellabs. Based on my research, they continue to own 8.7% of AFCI or about 6,340,234 shares. Also Brian Jackman Executive Vice President and a Director of Tellabs, Inc. owns 41,932 AFCI shares(includes 20,000 shares issuable upon exercise of a warrant), in his personal account. (http://www2.edgar-online.com/brand/yahoo/gdoc/?doc=A-317771-0000317771-98-000006&nad=0)
Therefore, the $100 million SPRIT contract with Tellabs announced today shows that the industry is starting to spend capital to build new networks (http://biz.yahoo.com/prnews/981208/il_tellabs_1.html). The switch Tellabs provides will form part of a system that will allow Sprint to place traditional, switched telephone services on its core Asynchornous Transfer Mode high-speed network.
We also know that SPRINT has been and continues to be a customer of AFCI (http://www.fibre.com/news/pressroom/040197.asp). On October 9, 1998 (http://www.fibre.com/news/Partners/1009.asp) AFC announced a 2 ½ year national distribution contract with Sprint for Sprint's and other carriers' local exchange networks.
Tellabs and one director (Brian Jackman) continue to invest in AFCI's technology. Both companies supply hardware to large telcom companies, one of them being SPRINT.
EKS
P.S. Someone prove me wrong, but Tellab's continued investment in AFCI by both the company and one director is bullish to this investor. |
