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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00160

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Jan 16 9:30 AM EST

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To: lebo who wrote (28630)	3/4/1999 8:30:00 AM
From: Joe Gun	Read Replies (2) of 45548

Siemens Confirms Data-Networking Press Meet In N.Y. Monday Dow Jones Newswires FRANKFURT -- Germany's Siemens AG (G.SIE) confirmed Thursday it will hold a press conference related to its data-networking activities in New York at 1330 GMT Monday. But a Siemens spokesman declined to comment on a New York Times report Wednesday that the company will announce DEM3 billion expansion plans into the fast-growing U.S. data networking business. The newspaper report said Siemens plans to form a new U.S. subsidiary, acquire two private companies in the U.S., invest in a third, and hire a senior executive from International Business Machines Corp. (IBM). It also said Siemens is in preliminary discussions with 3Com Corp. (COMS) about paying $1.2 billion for the 3Com unit that sells networking equipment to telephone companies, according to executive sources. "We will discuss details at the press conference. I can't say anything else before that," the spokesman told Dow Jones Newswires Thursday.

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