Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Alcatel (ALA) and France -- Ignore unavailable to you. Want to Upgrade?

To: Elmer Flugum who wrote (1855)	5/26/2000 3:51:00 PM
From: Steve Fancy	Read Replies (2) \| Respond to of 3891

Alcatel Targets Doubling Share Price In Near Future Dow Jones Online News, 05/26/2000 15:02 OTTAWA -(Dow Jones)- Serge Tchuruk, chairman and chief executive of French telecommunications giant Alcatel SA (ALA), said his immediate goal is to double the company's share price from its current level of US$48.50. While Tchuruk refused to be pinned down on an exact time frame for this to occur, he told a luncheon audience at the National Press Club that this would have to occur in the near future in order for the company to remain competitive. Tchuruk said Alcatel's recent US$7.1 billion acquisition of Newbridge Networks Corp. will allow the company to aggressively target the U.S. market, where it has previously had poor representation. While Tchuruk is waiting until next month's Supercomm trade show in Atlanta to unveil Alcatel's major plans going forward, he clearly put emphasis on gaining market share in the U.S. "If you want to be a global player, you have to take your chances in North America," he said, adding that the U.S. telecommunications and Internet markets are five years ahead of Europe, and that the major U.S. competitors - Cisco Systems Inc. (CSCO), Lucent Technologies Inc. (LU) and Nortel Networks Corp. (NT) - are "entrenched" and will be difficult to compete against. Tchuruk had high praise for Newbridge and said the company's ATM switching technology and broadband capabilities will round out Alcatel's product line, as the company endeavors to give customers faster networks. Tchuruk said that Terence Matthews, Newbridge founder and chief executive, has agreed to sit as an adviser on Alcatel's Chairman's Council. Matthews is now Alcatel's largest individual shareholder, controlling 3% of Alcatel's stock. Pearse Flynn, who had been installed as Newbridge's president six months ago, has been named to Alcatel's executive committee in Paris, France. As well, Flynn will be the president of Alcatel's carrier networking group. -Joel Baglole, Dow Jones Newswires; 613-237-0668 (This story was originally published by Dow Jones Newswires) Copyright (c) 2000 Dow Jones & Company, Inc. All Rights Reserved