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Technology Stocks : Vodafone-Airtouch (NYSE: VOD) -- Ignore unavailable to you. Want to Upgrade?

To: MrGreenJeans who wrote (3070)	1/12/2001 1:34:51 PM
From: MrGreenJeans	Read Replies (1) \| Respond to of 3175

Mapfre's Nielsen on European Phone Stocks, Vodafone: Comment By John Fraher London, Jan. 12 (Bloomberg) -- The following are comments by Patrick Nielsen, who oversees 1.5 billion euros ($1.4 billion) in stocks as head of international equity at Mapfre Inversion. Nielsen has been buying British Telecommunications Plc, Vodafone Group Plc and Equant NV. The 600-member Dow Jones Stoxx phone index gained 3 percent this week, boosted by Royal KPN NV, BT and Deutsche Telekom AG. ``Interest rates are falling and falling faster than anyone would have predicted. A lot of telecom stocks were dumped at the end of last year, as people were worried about credit quality. ``While debt is still an issue and spreads remain very high, people are revising their worst-case scenarios. Risks in the sector appear to be going down. ``It seems like as we get closer to Jan. 31 and another rate cut by the Fed, people are thinking about reshuffling their portfolios and turning to the phone operators. ``But we shouldn't fool ourselves that people necessarily believe in the future of these companies. It's just that investors' worst fears seem to be fading away