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Technology Stocks : BAY Ntwks (under House) -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (6522)	6/15/1998 2:33:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 6980

Kenneth, it would be interesting to see how low the arbs could push down NT. NT is 51% owned by BCE. Of the other 49%, goodnes know how much is owned by institutional investors. We don't have many profitable high tech companies in Canada, and almost all major Canadaian equity funds own Nortel. If you look at the average volume traded in NYSE, NT is not terribly liquid. I don't think Nortel is overpriced at the present level, compared with Lucent et al (though of course many would argue that Lucent is a higher-quality company than Nortel). Nortel is doing great business in China and the Asia Pacific region. I believe it had entered the China market much earlier than the other telecom equipment companies and has a good foothold there. In the next few weeks Nortel's price should recover somewhat.