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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: MARK C. who wrote (23372)	4/4/1999 11:01:00 AM
From: backman	Read Replies (1) \| Respond to of 90042

U.K.'s GEC Near U.S., German Telecom Bids - Newspapers LONDON (Dow Jones)--U.K. technology group General Electric Co. PLC (U.GEL) is set to unveil GBP1.5 billion in bids for U.S. and German telecommunications equipment companies, three British newspapers reported Sunday. All three newspapers said GEC is preparing a bid worth up to GBP500 million for the telecom arm of Germany's Robert Bosch GmbH (G.BOS), but they didn't agree on the U.S. target. The Sunday Telegraph reported that GEC has its sights set on New Jersey-based First Data Corp.'s (FDC) data networking equipment business for up to GBP1 billion. Sunday Business said Fore Systems Inc. (FORE) of Pittsburgh, valued at about GBP1.5 billion, is the frontrunner for a GEC bid. The Sunday Times didn't name a specific U.S. target, saying only that GEC is in the final stages of an agreed takeover of a U.S. data-networking group for a price believed to be about GBP1 billion. GEC officials were unavailable for comment. Earlier this year, GEC sold its defense electronics arm to Britsh Aerospace PLC (U.BA) in a mostly share deal, but said it intended to restore itself to the market value it had with the unit. Last month, it bought Reltec Corp. of the U.S. for $2.1 million to beef up its telecom business. (END) DOW JONES NEWS 04-04-99 08:42 AM reads like a deal to me, but no agreement: FORE or FDC....if FDC is a conglomerate, they might be more disposed (cheaper price for GEC) to make a deal to get rid of something that is not core competency david