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Technology Stocks : Softbank Investment International (HK0648)
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To: Yamakita who wrote ()3/16/2000 10:13:00 AM
From: ms.smartest.person   of 615
 
With previous post, All deals are announced, will CWAHF still be suspended?

Cheung Wah(0648) as Softbank flagship, announces to swap shares with 4 companies

Infocast News) Junichi Goto, President of Cheung Wah Development (0648), said that Softbank has completed the acquisition of Cheung Wah which will be the Asian investment flagship (besides Japan) of internet business. At the same time, Cheung Wah today announced to have share swap with 4 companies involving US$145 million.

He pointed out that chinadotcom agrees to swap shares with Cheung Wah involving US$25 million. Both companies will set up a joint venture to help Softbank's other internet subsidiaries in Japan to develop their businesses in Asia. And this project also helps chinadotcom's subsidiaries to enter the market in Japan.

The company and PhilWED.com Inc, Philippine-listed company, will undergo shares swap involving USD 50 million. Both parties will cooperate to form investment company and associate with AIG to search for investment opportunities in the Philippines.

Otherwise, the company and Digi Swiss Com, Malaysia company, will also undergo shares swap involving USD 50 million.

Concurrently, the company and Lai Sun Hotel (0571) will carry out shares swap involving USD 20 million. Lai Sun Hotel will see the company's Internet content as cooperation partner since it owns ATV.com.

infocastfn.com
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