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Technology Stocks : Softbank Group Corp

SFTBY 78.25

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1:54 PM EST

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To: TobagoJack who wrote (3883)	2/14/2000 12:17:00 AM
From: Hans U. Tschanz	Read Replies (1) of 6018

Softbank to list holding firms from World Bank JV TOKYO, Feb 14 (Reuters) - Japanese Internet investor Softbank Corp said on Monday it plans to list shares in holding companies to be created by its joint venture with International Finance Corp, a World Bank unit. Softbank said the shares would be listed in 2001 on Nasdaq markets in the United States, Europe or Japan. Softbank and IFC said over the weekend they would set up a $500 million investment fund to help start up Internet companies in some 100 developing countries. The venture, to be set up next month, will be called Softbank Emerging Markets. ''We will select 10-20 target countries in the first phase. Then we will carry out IPOs (initial public offerings) to raise funds to go forward to the second stage,'' said Softbank President Masayoshi Son at a joint news conference with IFC. As an example, Son said the holding companies to be created and listed could include a firm called Yahoo Emerging Markets. Softbank has an equity stake in leading U.S. Internet firm Yahoo (NasdaqNM:YHOO - news).

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