GEC to Buy Nokia Synfonet, Transport for $76M - Nov. 1, 1999

Reporter: David Speakman
Date:11-01-1999

Company/Ticker/URL:Nokia

2nd Co.: General Electric Company Plc GNELY:OTC www.gec.com
3rd Co.: Marconi Comminications Ltd. GNELY:OTC www.marconicomms.com



Headline: GEC to Buy Nokia Synfonet, Transport for $76M

TRT:

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U-K based General Electric Company said it will spend
46 million British pounds - or 76 million dollars - to buy Nokia's
Synfonet brand and transport equpiment business.

In the deal, G-E-C will fold Synfonet and Nokia's SDH/DWDM
operation - including 120 Nokia employees - into it Marconi
Communications subsidiary.

If the acquired unit meet operating expactations, GEC will
pay Nokia a bonus - which could bring the final purchase price of
the Synfonet proteries to 110 million dollars.

SDH/DWDM technology is used in digital wireless
telecommunications.

AT ____ ET Nokia was up/down _____ at ______.

Category:

News & Politics

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• ON24