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Technology Stocks : Alcatel (ALA) and France -- Ignore unavailable to you. Want to Upgrade?

To: larry pollock who wrote (3707)	12/14/2001 12:43:23 PM
From: larry pollock	Respond to of 3891

Alcatel Hit by Global Crossing Fears RELATED SYMBOLS: (GX)(JPM)(ALA)(AX) Dec 14, 2001 (ComputerWire via COMTEX) -- Fears over the ability of Global Crossing Ltd to survive the market downturn hit shares of Alcatel SA amid concern over its exposure to the Hamilton, Bermuda-based carrier. Alcatel's shares fell 7.3% to 19.55 euros ($17.45) after a research note by analysts at JP Morgan questioned Global Crossing's prospects of staying afloat. JP Morgan cited market talk that the company's Asian subsidiary, Asia Global Crossing would draw down a bank facility Global Crossing had previously offered. "If Asia Global Crossing is drawing down on its credit facility, it could represent an attempt to shield this money from a potential Chapter 11 filing," JP Morgan said. Alcatel has been hit by the decision of Vancouver, Canada-based 360networks Inc to seek protection from its creditors after a $1bn deal to build trans-Pacific and transatlantic cables for the company. Its commitment to Global Crossing is believed to be on a smaller scale, offering maintenance services, but in the current climate of suspicion toward equipment suppliers, even a hint of more bad news is enough to turn sentiment against the company. Network Briefing Daily: Issue , December 14, 2001 (C) Copyright 2001 ComputerWire. Not to be reproduced in whole or in part without written permission. -0- (Public Company & Wall Street & Business & High Tech)