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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked

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To: JeffA who wrote (23679)	4/5/1999 12:20:00 PM
From: kathyh	Read Replies (1) of 90042

Here is an article from yesterday's Sunday Times... looks like they are selling Marconi to British Aerospace, and have lots of cash to beef up their core business... telecoms... the-times.co.uk. An excerpt from the Times article... Simpson said immediately after the BAe deal that he intended to restore GEC to the market value - about £15 billion - that it enjoys with Marconi electronics in the group. He indicated GEC had up to £10 billion to reinforce its remaining businesses. Last month, when GEC announced the £1.3 billion purchase of Reltec, an American cables and switching-equipment maker, Simpson said the group was planning further purchases in America and Europe to boost its presence in the fast-growing data networking and Internet-related equipment business. "We still have plenty of firepower left," said Simpson. "At the moment, we are still an ugly duckling in the telecoms market . . . but I believe in five years' time, we will emerge as a beautiful swan." America is a key target for GEC, because it accounts for half the world's telecoms-equipment spending and is at the leading edge of the data networking revolution. GEC is particularly keen to acquire expertise in data switches and routers, products at the heart of the new networks.

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