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Technology Stocks : Ericsson overlook? -- Ignore unavailable to you. Want to Upgrade?

To: JGoren who wrote (2033)	9/24/1998 2:21:00 AM
From: Ruffian	Respond to of 5390

All, Think CISCO is interested in the Q, along with LU? Home - Yahoo! - Help [ Business \| US Market \| By Industry \| IPO \| AP \| S&P \| International \| PRNews \| BizWire ] Thursday September 24, 12:41 am Eastern Time Cisco CEO distances himself from any Ciena purchase WASHINGTON, Sept 23 (Reuters) - Cisco Systems Inc. (Nasdaq:CSCO - news) Chief Executive Officer John Chambers distanced himself from rumors on Wednesday that his company may purchase Ciena Corp. (Nasdaq:CIEN - news), a telecommunications equipment supplier. Chambers told a small group of reporters that Ciena has ''a number of serious'' shortfalls, measured against criteria his company uses in deciding whether to acquire other companies. Chambers ticked off the criteria: A common vision, short-term wins for Cisco after the acquisition, long-term strategic importance, a similarity of chemistry and culture, and geographic proximity. Nonetheless, Chambers said he has admiration for the CEO of Ciena. Asked by a reporter, he rejected the notion that the rumors were floated merely to help increase the price of the stock. Shares of Ciena Corp. rose 26 percent on Tuesday as rumors circulated that it might be a takeover target and that Cisco might be a possible buyer. Cisco is a leader in the manufacture of computer network equipment used on the Internet. Chambers said that his company looks for companies that will help it achieve its goals as it moves into new areas. And he said what his company purchases is largely the expertise of engineers and others. He said Cisco is now focusing on telecommunications. Chambers has said that his company is now squaring off against the giants of the telephone equipment industry, Lucent Technologies (NYSE:LU - news) and Northern Telecom Ltd. (Toronto:NTL.TO - news) as data networks, video and voice converge. ''Distance is dead,'' said Chambers, speaking of the promise of the Internet. ''And the size of the business no longer makes any difference.'' He laid out a vision of the future, predicting that by 2004 the Internet will have the same effect on elections that televised debates had in 1960 between Richard Nixon and John Kennedy. Kennedy is widely credited with winning a razor-thin victory in the 1960 presidential race because of his televised debates with Nixon. Historians have said that while those who listened on the radio judged Nixon the winner, those who watched on the newer medium of television gave the edge to Kennedy. More Quotes and News: Ciena Corp (Nasdaq:CIEN - news) Cisco Systems Inc (Nasdaq:CSCO - news) Lucent Technologies Inc (NYSE:LU - news) Northern Telecom Ltd (Toronto:NTL.TO - news) Related News Categories: US Market News Help Copyright c 1998 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. See our Important Disclaimers and Legal Information. Questions or Comments?