AT&T Wireless said it may be taking the interest of possible buyers seriously, but there was no word yesterday on what impact the company's sale could have on the Bermuda office.

The telecommunications company - which is listed on the New York Stock Exchange and has its headquarters in Redmond, Washington - announced last Thursday that it was reviewing its “strategic alternatives”.

Yesterday, AT&T Wireless Bermuda's general manager Jonathan Koshar said he was unable to comment on the matter.

AT&T Wireless holds 60 percent of the Bermuda branch, with the balance of ownership being held by local company PM Ltd.

In recent weeks, a number of rival telecommunications companies - including Cingular Wireless, T-Mobile parent Deutsche Telecom and Britain's Vodafone - have been touted as possible buyers for AT&T Wireless.

In a Press statement, the company conceded that “significant interest from a number of other companies, as well as global and domestic industry dynamics,” had led the board of directors to consider selling out. But the company also said “there can be no assurance that any transaction will occur”.

AT&T Wireless also cancelled an annual analyst meeting, “in light of the announcement”.

The company said it had picked Merrill Lynch & Co. and Wachtell, Lipton, Rosen & Katz to advise it on the matter.

Summa settles patent infringement suit

(Bloomberg) Summa Industries, a maker of plastic products, said it agreed to settle a lawsuit against Cooper Industries Ltd. that claimed Cooper copied products made by a Summa subsidiary.

Terms of the settlement reached on Friday aren't being disclosed, Summa Chief Executive Officer James Swartwout said in an interview. Summa said in its March 2003 suit that Cooper infringed patents and the design of the Reflexor brand prismatic reflector made by Summa's LexaLite International Corp. unit. Cooper manufactures Halo light fixtures.

Cooper acknowledged certain LexaLite patents, Swartwout said. LexaLite also agreed to make Cooper's product under a long-term licence of LexaLite's patent, Torrance, California-based Summa said in a statement. Swartwout declined to disclose the terms of that agreement. Cooper remained a customer during the litigation, Summa said.

Summa shares rose 16 cents to $9.25 as of 12:03 p.m. New York time in Nasdaq Stock Market composite trading. Shares of Cooper fell 18 cent to $57.12 as of 12:36 p.m. in New York Stock Exchange composite trading. Cooper, which also makes Crescent tools, is based in Bermuda, and operated from Houston.

New BSX funds administrator

A new administrator and a new custodian of 16 Bermuda Stock Exchange-listed funds have been appointed.

Continental Sponsors Ltd. said in a BSX statement that with effect from January 1, the new administrator of the funds is International Fund Managers (Ireland) Ltd. and the new custodian is Barings (Ireland) Ltd.

The position of manager has been discontinued.

The funds are: Aurum Asia Pacific Fund Ltd; Aurum Eagle Fund Ltd; Aurum Europa Fund Ltd; Aurum Fortress Fund Ltd; Aurum Investor Fund Ltd; Aurum Isis Fund Ltd; Aurum Managed Portfolio Ltd; Aurum Spectra Fund Ltd; Aurum Synchronicity Fund Ltd; Aurum Universal Fund Ltd; Aquarius Fund Ltd; Resonance Fund Ltd; Jacana Diversified Fund Ltd; CAM Bastion Fund Ltd; CAM Pinnacle Fund Ltd; Jacana Fund Ltd.

It was also confirmed that Global Fund Services Ltd. has been appointed as the local administrator.

In addition, Continental Sponsors Ltd. said Hennie Esterhuizen has been appointed Director of CAM Bastion and CAM Pinnacle funds.

The company also confirmed that Rudi Stumpf is no longer a director of the funds.