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Technology Stocks : Nokia Corp. (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: Eric L who wrote (1606)	10/26/2001 9:48:41 AM
From: Eric L	Read Replies (1) \| Respond to of 9255

re: Qualcomm & Vesper >> Lucent, Nortel to Forgive 80% of Brazil Vesper Debt ... Ericsson AB, Lucent Technologies Inc., Nortel Networks Corp. and Harris Corp. are studying a plan to forgive as much as $960 million in debt from Brazilian telephone operator Vesper Sao Paulo SA. The four companies, which supplied Vesper with telephone equipment and software, plan to forgive about 80 percent of the company's $1.2 billion debt with them, the daily said. The debt forgiveness will allow Vesper to avoid bankruptcy, the paper said. Qualcomm Inc. plans to pay suppliers the remaining $240 million in exchange for the control of Vesper, Valor reported. Qualcomm now holds 16.2 percent of Vesper, which is controlled by Velocom, the paper said. << Message 16562213 - Eric -