good morning a bit of COMS news
Sweden's Ericsson Unlikely to Buy 3Com, Analysts Say
Stockholm, April 26 (Bloomberg) -- Ericsson AB, the world's No 3 mobile phone maker, is unlikely to acquire 3Com Corp., the world's No. 2 networking company, whose shares gained 16 percent on Friday amid speculation it would be bought by a big phone- equipment maker, Swedish newswire Direkt said, citing a number of unidentified analysts. ''Looking at Ericsson's previous pattern of behavior it
doesn't seem likely that the company would pay 80 billion to 100 billion kronor ($9.5 billion to $11.9 billion) for a company whose products don't fit in very well,'' one analyst said, adding that Bay Networks Inc. or Ascend Communications Inc. would have suited Ericsson better. Pia Gideon, head of information at Stockholm-based Ericsson, declined to comment on the speculation, adding that she didn't work last weekend, whereas she did work the
weekend before the company bought Torrent Networking Technologies Corp.
Although Ericsson this month agreed to buy Maryland-based Torrent for $450 million in cash, critics say the Swedish company has to make more Internet-related acquisitions to compete with Cisco Systems Inc., the No. 1 maker of Internet equipment, and others in the data-networking industry.
(Direkt 4/26, www.direkt.se)
Apr/26/ 99 7:55
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