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Technology Stocks : Softbank Group Corp

SFTBY 61.21

+2.4%

3:59 PM EST

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To: Edwin S. Fujinaka who wrote (5246)	6/5/2000 9:52:00 PM
From: Altaf Amin Jadavji	of 6020

It seems it just did (NCB goes to SFTB) ... Tuesday, June 6, 2000 Softbank Consortium To Launch New NCB In August TOKYO (Nikkei)--The Financial Reconstruction Commission is set to sign a contract as early as Tuesday to sell Nippon Credit Bank to a consortium led by Softbank Corp. (9984). The newly reprivatized bank could be launched as early as August, The Nihon Keizai Shimbun has learned. Last-minute concessions from the Softbank side on the contentious issue of the public funding of NCB's loan-loss reserves paved the way for the pending agreement. An independent assessor is expected to make the final determination of the bank's assets. The Softbank side also decided to accept government guidelines on investment in a bank by a nonbank entity. Cerberus Partners, a U.S. investment fund that had been a contender to buy the bank, announced Monday it is pulling out of the race after hearing of the expected agreement to sell the bank to the Softbank consortium. Long-Term Credit Bank, the other bank which had been under government control, has already been reprivatized. (The Nihon Keizai Shimbun Tuesday morning edition) --------------------------------------------------------------------------------

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