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Gold/Mining/Energy : CGI Group (GIB.A) - -- Ignore unavailable to you. Want to Upgrade?

To: Greg R who wrote (1452)	11/17/1999 9:08:00 AM
From: Sili Investor	Read Replies (2) \| Respond to of 1673

Here's one of the big ones we've been waiting for!!!! Globe says Nortel, CGI deal could be worth $900-million CGI Group Inc GIB.A Shares issued 143,154,614 Nov 16 close $34.35 Wed 17 Nov 99 In the News See Nortel Networks Corp (NT) In the News The Globe and Mail reports in its Wednesday, Nov. 16, edition that an information-technology services outsourcing contract from Nortel Networks could be worth $900-million a year to CGI Group, a recent CIBC World Markets report says. The Globe's News Bulletins column reports that Nortel is in the midst of an operational outsourcing program to cut costs. CGI is a natural choice for such a contract because both companies are members of BCE's conglomerate of companies. CGI already has big IT outsourcing contacts with a number of BCE companies, representing about 30 per cent of its revenue. CIBC analyst Rajiv Das estimates that a Nortel contract for IT services would be worth $9-billion over 10 years. If CGI won such a contract, it would involve transferring about 4,000 employees to CGI and would save Nortel about $100-million (U.S.) a year.