Dear Stuart - I share your suspicion. While NT is really a multinational, some people may wrongly think of it as Canadian. Personally, I ve nothing against Canada. Quite on the contrary, some of my relatives live in Canada. So I could be Canadian by relation <G>. Unfortunately, according to Mr Brian Rogers [T Rowe Price G&I Fund mgr,] as he explained it on WS Week a few weeks ago, traditionally, the Canadian market is valuated below the US market. Of course, BCE holding closed to 50% of NT makes it more Canadian than it really is.
Having said that, I think it is important that NT should take the responsibility to debunk the misperception. Afterall, if it doesn't trumpet its own successes and strength, why does it expect WS to do the heavy lifting? Mr House has done a lot of branding for Baynetwork. Now, with a much bigger company, Nortel Networks should prove itself to be lean and customer focus, and with the best technologies to boot. It may take a Q or two to undo the misunderstanding occurred a few months ago, but I like to think it is not that difficult.
best, Bosco |
