It looks as if Matra SA is negotiating to put its Matra Communication SA subsidiary into a joint venture with Northern Telecom Ltd. Chairman Jean-Luc Lagardere told the annual meeting that he is holding discussions with a potential partner for the business, without naming names, but when a questioner mentioned the Canadian company, he declined to concur but said I think you are well-informed. The alliance would make sense for Northern Telecom, which decamped to France to build up its European business after substantial investment in the UK failed to win it the position of preferred second source supplier of telephone exchanges to British Telecommunications Plc; it returned to buy STC Plc in the UK.
