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.

Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (55693)	11/16/2001 1:51:32 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Friday November 16, 12:38 PM Furukawa cuts deal with Lucent for fibre optics unit By Eriko Amaha sg.news.yahoo.com TOKYO (Reuters) - Furukawa Electric Co, Japan's top maker of fibre-optic parts, said on Friday it had sealed a long-awaited deal to buy the fibre optics business of loss-making Lucent Technologies Inc for about $2.3 billion. The sale price, lower than originally agreed, is another setback for the giant U.S. telecoms equipment maker, which lost nearly $9 billion in its latest quarter and is halving of its workforce after stumbling in the intensely competitive industry. Furukawa <5801> said it would pay $2.127 billion in cash, and that its partner in the acquisition, CommScope Inc , would pay $173 million in cash and equity to buy the money-losing business. In July, the two had agreed to pay Lucent $2.525 billion in as part of a larger deal that would have involved Lucent selling its fibre-optic businesses in China to Corning Inc for $225 million, for a total of $2.75 billion.