Lucent investigates charges it foiled Ciena deal

Article Abstract:

Lucent Technologies is looking into allegations that it had a hand in the breakup of negotiations regarding the union of Tellabs and Ciena. The company launched the internal investigation based on a report that an anonymous e-mail sent on Aug. 28, 1998, to both Tellabs and the CNBS cable TV station came from a Lucent facility located in New Jersey. The e-mail contained allegations that Ciena had falsified test results for its products to show that they conform to the existing standards of the industry.

Comment:

Is looking into allegations that it had a hand in the breakup of negotiations regarding the union of Tellabs and Ciena

Strategy & planning, Telecommunications Equipment, Telecommunications systems, Article

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Lucent looks to get $6.5B credit line

Article Abstract:

Troubled telecommunications equipment maker Lucent Technologies announced that it has received a new $6.5 billion credit line which would replace a $2 billion line that has just expired. The new line was extended by a consortium of banks headed by J.P. Morgan Chase and Salomon Smith Barney. Failure of Lucent to secure the new financing would have resulted in the lowering of its credit rating to "junk" status and heightened investor concern on its financial condition.

Financial management, Communications Eqp ex Tel

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$100 billion bid for Sprint

Article Abstract:

BellSouth Corp is set to make an acquisition offer worth over $100 billion for Sprint Corp, the third-largest long-distance service provider in the US. Although BellSouth has been eyeing Sprint for several years now, but the decision came after it learned that MCIWorldcom is also interested in Sprint. The merger should uplift BellSouth's competitiveness in the emerging global telecommunications market.

Asset sales & divestitures, Wired Telecommunications Carriers, Long Distance Telephone Svc, Sprint Corp.

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