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Kkr Is Hooking Up To Telecom


In Business This Week

KKR IS HOOKING UP TO TELECOM

KOHLBERG KRAVIS ROBERTS, better known for its investments in such prosaic industries as food and supermarkets, is going high-tech--after a fashion. The buyout firm is plunging into telecommunications, with a $475 million buyout of Rockwell International's Reliance Comm/Tec unit. KKR says Comm/Tec, which had 1994 sales of $458 million, should prosper from the telecommunications industry's bulging investment in infrastructure, especially with its digital loop carriers that link fiber-optic cables with old copper wires. If the acquisition seems racy by KKR's traditional standards, Comm/Tec has its prosaic side, too: Most of the unit's sales come from old-line, stable businesses.EDITED BY KEITH H. HAMMONDS


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