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Non-Tech : MAT - Mattel - toysRthem

MAT 20.07

-1.9%

Dec 19 9:30 AM EST

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To: John Finley who wrote (522)	4/3/2000 5:39:00 AM
From: Neil H	Read Replies (2) of 706

Monday April 3, 2:19 am Eastern Time Mattel seeks to sell troubled Learning unit-WSJ NEW YORK, April 3 (Reuters) - Mattel Inc. (NYSE:MAT - news) is rushing to sell its beleaguered Learning Co. software and interactive unit for possibly only a third of what it paid a year ago, the Wall Street Journal reported in its online edition on Monday. Mattel could announce as soon as Monday that it retained Credit Suisse First Boston to arrange a sale of the unit, the Journal reported, citing people familiar with the situation. In May, the El Segundo, Calif.-based toy maker paid $3.5 billion for Learning Co, which has since led to $300 million in red ink, the loss of more than two-thirds of Mattel's market value and the resignations of its chief executive, president and chief financial officer. A Mattel spokesman could not be contacted for comment on the Journal story. Shares of Mattel closed at 10\07 on March 30.

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