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Technology Stocks : Intel Corporation (INTC)

INTC 40.56

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Nov 28 9:30 AM EST

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To: rudedog who wrote (103436)	5/16/2000 9:27:00 AM
From: Road Walker	of 186894

Tuesday May 16, 7:15 am Eastern Time Mitsubishi Elec, Intel to unveil joint project TOKYO, May 16 (Reuters) - Japan's Mitsubishi Electric Corp said it would unveil on Wednesday a joint development project with the Japanese unit of Intel Corp (NasdaqNM:INTC - news) amid speculation the two would form a technological alliance. The two companies said in a statement they will hold a joint news conference at 11 a.m. (0200 GMT) on Wednesday, but gave no other details. In February, the Japanese financial daily Nihon Keizai Shimbun said electronics equipment maker Mitsubishi Electric and Intel, the world's largest chip maker, were planning a technological alliance for the next generation of cellular phones. Mitsubishi would provide Intel with the technology to link cellular phones and base stations while the U.S. giant would supply Mitsubishi with its microprocessors and other chips, the paper added. Tuesday's announcement came after the close of the Tokyo Stock Exchange where shares in Mitsubishi Electric ended up 1.3 percent at 1,010 yen.

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