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Technology Stocks : Ascend Communications (ASND)

ASND 213.36

-3.3%

Dec 15 3:59 PM EST

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To: Kent Rattey who wrote (60212)	3/4/1999 8:21:00 AM
From: Kent Rattey	Read Replies (2) of 61433

Siemens plans U.S. data venture Compiled by CBS MarketWatch Last Update: 5:55 AM ET Mar 4, 1999 NEW YORK (CBS.MW) -- Germany's Siemens A.G. may be splashing out to the tune of $2.9 billion through investments and acquisitions in the U.S. According to the New York Times, Siemens is about to move into the fast-growing data networking business by setting up a new American subsidiary, acquiring two private companies in the United States, and investing in a third. According to the New York Times, Siemens which is one of Europe's largest manufacturing firms, is also in preliminary discussions with the 3Com Corporation (COMS) over buying a 3Com division which sells networking equipment to telephone companies for $1.2 billion. The Times reported that Siemens's has set aside about $1.7 billion (3 billion deutsche marks) to invest in its new venture. The company is also considering folding its existing operations in the United States into the venture and selling stock in the subsidiary later this year. New York Times

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