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

To: larry pollock who wrote (10171)	3/6/2001 9:41:33 PM
From: Kenneth E. Phillipps	Read Replies (1) \| Respond to of 14638

To sell in this market is a big mistake. The market bottomed after the news from Oracle. The market is way oversold. zdii.com

To: larry pollock who wrote (10171)	3/12/2001 1:01:09 PM
From: larry pollock	Respond to of 14638

British Telecom Moves 400 Mln Pnd Order From Nortel to Marconi By Richard Blackden London, March 12 (Bloomberg) -- British Telecommunications Plc, the U.K.'s second-largest phone company, said it switched 400 million pounds ($587 million) of a contract to upgrade its network from Nortel Networks Corp. to Marconi Plc to save costs. British Telecom had agreed last year to jointly award the contract to Marconi, based in London, and Nortel, based in Canada. The contract is estimated to be worth 800 million pounds over five years. Under the agreement, Marconi will supply equipment to improve the capacity and reliability of British Telecom's network. ``It makes better business sense for us to go with Marconi because we can get some cost savings,'' David Orr, a spokesman at British Telecom, said. He declined to give an exact number for the savings, saying the contract value may change depending on demand for the equipment. British Telecom wants to cut its debt by a third, or 10 billion pounds, this year by selling assets and shares in units such as its mobile phone business. The company plans to sell shares in its cellular phone unit in the second half of the year. Marconi spokesman Mel Foster confirmed the contract was first given jointly to his company and Nortel last July. British Telecom shares fell 20 pence, or 3.6 percent, to 535p, while Marconi shares dropped 34 pence, or 7.1 percent, to 447p. Nortel shares fell as much as C$2.71, or 9.8 percent, to $24.98 in recent Canadian trading. Access More Information and Services Above