Cable snaps

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The Independent Online
SIEMENS and Philips have scrapped plans to combine their cable and fibre-optics businesses. The companies cited lower prices for the move. Last month, the EC Commission ordered a full inquiry on the effect of the joint venture. The decision is more damaging to Philips, which is cutting back on non-core businesses, than to Siemens. The Dutch company is a much smaller player in the industry than its German counterpart, which is helping to modernise eastern Germany's telecommunications networks.