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Intel Denies Buying Shares in Agere $3.6 Billion IPO

Mar 29, 2001

Intel Corp. (INTC) did not buy shares in Wednesday's $3.6 billion initial public offering of Lucent Technologies Inc.'s Agere Systems unit (AGRa), an Intel spokesman said, contradicting a report by cable news network CNBC.

"We did not participate," said Intel spokesman Robert Manetta told Reuters when asked about the CNBC report.

Earlier, CNBC reported there were rumors that Intel, the world's largest chipmaker, had bought shares in Agere's IPO, helping to get the deal done in a grim IPO market.

Agere is the optical components and semiconductors unit of troubled telco firm Lucent (LU).

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