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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: Mavrick who wrote (23658)	4/5/1999 11:57:00 AM
From: JeffA	Respond to of 90042

Thread, ALways Learning and FORE players Heres an article from London about GEC and Marconi. Fore is mentioned near bottom. April 5 1999 BUSINESS NEWS GEC in talks to buy telecoms firms for £1.5bn BY MARTIN BARROW GEC is close to announcing two deals in America and continental Europe worth a total of £1.5 billion that will accelerate its expansion in fast-growing sectors of the telecoms market. The company, whose managing director is Lord Simpson of Dunkeld, is in talks to buy the networking equipment businesses of First Data Communications, an $18 billion information services group based in New Jersey. These have been valued at about £1 billion. Separate talks are under way with Robert Bosch, the German industrial group, about buying its telecoms business, which is worth about £500 million. A deal with Bosch would significantly expand GEC's capability in mobile telephony. GEC is keen to move quickly to refocus the group after January's agreement to sell its defence electronics arm to British Aerospace for £7 billion. Last month Lord Simpson dipped into GEC's warchest for the acquisition of Reltec, a US manufacturer of cables and switching equipment, for £1.3 billion. If these two latest deals are completed, GEC will have spent almost £3 billion so far this year, leaving it on course to fully replace the Marconi defence business by substantially increasing investment in telecoms. Senior GEC executives are running their slide rules over a number of companies in the US, which accounts for about one half of global investment in telecoms equipment and data networking. Another possible target is Fore Systems, based in Pittsburg, whose switching systems are widely used by Internet companies. Next page: Saudis in talks with US oil companies Arts (Mon - Fri) \| Books (Sat) (Thu) \| British News \| Business \| Court page \| Features (Mon - Fri) \| Go (Sat) \| Metro (Sat) \| Obituaries \| Interface (Wed) \| Opinion \| Sport \| Travel (Sat) (Thu) \| Vision (Sat) \| Weather \| Weekend (Sat) \| Weekend Money (Sat) \| World News Next page: Saudis in talks with US oil companies Copyright 1999 Times Newspapers Ltd. This service is provided on Times Newspapers' standard terms and conditions. To inquire about a licence to reproduce material from The Times, visit the Syndication website.