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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00130

-18.8%

Nov 7 11:47 AM EST

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To: Glenn McDougall who wrote (28723)	3/4/1999 7:17:00 AM
From: elmatador	Read Replies (1) of 45548

CORRECTED-Siemens no comment on US venture report 02:39 a.m. Mar 04, 1999 Eastern MUNICH, March 4 (Reuters) - German industrial group Siemens AG said it would hold a news conference in New York on Monday but declined comment on a newspaper report it was poised to invest three billion marks (corrects) in a U.S. data networking venture. ''What I can confirm is that next Monday in New York we will have a press conference. We will talk about ideas in this field but I cannot comment further on speculation,'' Siemens spokesman Eberhard Posner said on Thursday. The New York Times reported earlier on Thursday that Siemens was about to expand into the data networking business by creating a new American unit, buying two private U.S. companies, investing in another company and hiring a senior executive from IBM Corp. The paper said that the German group, which plans to list in the United States in early 2001, is in preliminary talks with 3Com Corp to buy its unit that sells networking equipment to phone companies. It also reported that Siemens is expected to announce it has agreed to buy U.S. data networking firms Castle Networks Inc. and Argon Networks.

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