Qualcomm Moderated Thread - please read rules before posting Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 165.14

+1.1%

3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Ramsey Su who started this subject	3/7/2002 2:16:34 PM
From: Ramsey Su	Read Replies (1) of 196764

Could this be the fuse that is going to set EU 3G on fire? cellular-news.com Auditor approved to investigate MobilCom MobilCom's Supervisory Board approved the hiring of the BDO accountancy firm (Deutsche Warentreuhand Aktiengesellschaft Wirtschaftsprüfungsgesellschaft) to examine the company's option hedge transaction with Millennium GmbH. The results of the audit will be available no later than the next meeting of the Board of Directors on 20 March. The funding of Millennium has become one of the more tricky issues to resolve in France Telecom's arguments with MobilCom's chairman Gerhard Schmid. Millennium is owned by Gerhard Schmid's wife and recently purchased a 5% stake in MobilCom. France Telecom had threatened to sue the company if it didn't bring in outside auditors to investigate if corporate governance rules had been broken during the transaction. MobilCom said that the delay in selecting an auditor was due to the fact that France Telecom's preferred auditor had recently carried out work for France Telecom and MobilCom was unhappy using an auditor with such close ties to the company. The MobilCom Supervisory Board was looking for a neutral auditor which maintains economic relations to neither MobilCom nor France Telecom to perform this audit. The two companies are due to meet next week in Germany to see if they can amicably resolve their dispute. There is mounting speculation that France Telecom wants Mr. Schmid to step down from his position of Chairman, but that would trigger an automatic bid by France Telecom for the company under an existing options package agreed between the two companies. If that happened, not only would France Telecom have to increase its debt to buy the company, but it would also have the double whammy of including MobilCom's own debt mountain in its accounts. Posted to the site on 7-Mar-2002

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next