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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Neil H who wrote (79074)	12/16/1999 6:16:00 AM
From: kfdkfd	Read Replies (1) \| Respond to of 90042

Last item, interesting:Marconi completed the acquisition of access technology company Reltec in April for around $2.1 billion. Marconi bounces on BellSouth award LONDON, Dec 16 (Reuters) - Shares in technology company Marconi Plc rebounded in early trade Thursday on news the group had been awarded a contract with BellSouth Corp (NYSE:BLS - news) which could be worth $1 billion in sales revenue over the next three years, dealers said. Marconi stock rose 56p or 6.1 percent to 980p by 0810 GMT, having fallen sharply on Wednesday amid a broad-based sell-off across the technology sector. Dealers said a 1.4 percent bounce by the technology-heavy U.S. Nasdaq composite index overnight also buoyed Marconi shares. Marconi said the number three U.S. local telephone company would use its optical networking equipment to provide high-speed Internet access and entertainment to consumers. Analysts said the contract was the first indication the integration of Reltec Corp into Marconi was beginning to produce tangible results. ``The BellSouth contract is a realisation of the revenue synergy benefits they expected to get from putting the businesses together,' said SG Securities analyst Andy Chambers. Marconi completed the acquisition of access technology company Reltec in April for around $2.1 billion.