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 : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: FESHBACH_DISCIPLE who wrote (8509)	11/16/2000 12:45:57 PM
From: SoSo	Read Replies (3) \| Respond to of 14638

If competitive concerns are mounting, this may have contributed: New York, Nov. 13 (Bloomberg) -- PF.Net Communications Inc. Chairman Robert Annunziata said Nortel Networks Corp. and Corvis Corp. are contenders to supply his company with at least $200 million of fiber-optic equipment and financing to purchase it. The closely held company also is talking with Cisco Systems Inc. about the contract, he said. It needs the equipment in time to power the first phase of a 17,000-mile telecommunications network in the first quarter. Chief Financial Officer Dave Taylor said aggressive financing and quality software to manage the network are among the requirements for a winning bid. Corvis is being more aggressive on financing than in the past, while Nortel already has extended $125 million of credit to PF.Net, he said. ''Corvis software is very good, Nortel is very good,'' Annunziata said in an interview at UBS Warburg LLC's Global Telecom Conference in New York. ''They're strong candidates.'' PF.Net, which is backed by Odyssey Investment Partners LLC, wants to explore the possibility of taking a stake in Corvis in return for buying its equipment, Taylor said. He named Broadwing Inc., which took a stake in Corvis in June, before the equipment maker went public, as the model for such a transaction. **** Be nice to see an announcement NT won the contract, but not if it was based on more financing. BTW, Corvis is tanking hard today, down 7 to 40 3/8.