Fidelity/Boston likes NN-Buys10%
Fidelity Purchases Newbridge Networks
Corp. Common Stock
Canada Newswire
Wednesday, April 28, 1999 6:52PM
BOSTON, April 28 /PRNewswire/ -- Fidelity
Management & Research Company (FMR) and
Fidelity Management Trust Company (FMTC),
82 Devonshire Street, Boston, Massachusetts,
announced that certain open-end investment
companies of which FMR serves as investment
manager and certain institutional accounts for
which FMTC serves as investment manager
have in public transactions purchased
Newbridge Networks Corp. common stock. The
common stock purchased, together with
previously acquired shares, represents 10.13%
of the issued shares of such class.
Fidelity fund and trust account purchases
have been made for investment; the Fidelity
funds and trust accounts may, subject to
market conditions, make additional investments
in or dispositions of securities of Newbridge
Networks Corp. in the future, including
additional purchases of the common stock.
FMR and FMTC do not, however, intend to
acquire 20% of any class of the outstanding
voting or equity securities of Newbridge
Networks Corp.
SOURCE Fidelity Management & Research
Company
/For further information: Paul Howard of
Fidelity, (416) 307-5287 |
