Ericsson denies Fore buyout rumours

Ericsson has moved to quash industry rumours it is on the verge of buying backbone networking specialist Fore Systems.

Thirteen days after Network World Today formally requested comment from Ericsson officials, an Ericsson spokesperson yesterday said: "I am advised that there is no truth to this rumour."

As reported in Network World Today on March 24, 1999, a Fore executive indicated the company may be in play.

"I'd say that the rumour has got a lot of substance to it," he said.

Meanwhile, a number of industry sources report the United States' Securities and Exchange Commission (SEC) is investigating the buyout reports. Fore Systems is also conducting an internal investigation over the issue.

Click on the link below to read "Ericsson rumoured close to Fore buyout".