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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: ronho who wrote (110103)	1/3/2002 7:09:49 AM
From: Dennis Roth	Respond to of 152472

European Telecom shares suspended on Aim news.ft.com By Astrid Wendlandt Published: January 2 2002 22:49 \| Last Updated: January 2 2002 22:54 Shares in European Telecom were suspended on Aim on Wednesday after the mobile phone distributor postponed the publication of its interim results until later this month. Euro Telecom, which should have made public its financial performance for the six months to September 30 on Monday, blamed the delay on a strategic review and past disposals. Simultaneously, the company announced the acquisition of Philips' GSM handset distribution and configuration business based in Le Mans, France, for E500,000 (£304,000). It said the acquisition would help it distance itself from distribution and move towards value-adding services such as marketing and the configuration of mobile phones. Philips said the disposal was part of its current efforts to increase outsourcing and lower costs. Euro Telecom financed the deal by tapping into some of the £2.2m ($3.2m) it raised in September through a placing and open offer. The placing gave effective control of the company to Warren Hardy, founder and executive chairman, who increased his stake from a little over 30 per cent to 53.7 per cent. The company reported full-year pre-tax losses for the year to March 2001 of £27m (£3.6m profits). The shares, which have collapsed from a high of 750p in February 2000, closed at 8p on Monday. ====== Good news is not delayed a month. DPR