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Technology Stocks : Softbank Investment International (HK0648)
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To: Yamakita who started this subject8/15/2000 10:32:46 PM
From: ms.smartest.person  Read Replies (1) of 615
 
Softbank Inv (0648-HK) buys stake in Morningstar Asia

Softbank Investment International (Strategic) Limited has entered into an agreement with Advanced Internet Visions Ltd (AIV) to acquire a 10 pct interest in financial Website Morningstar Asia.

AIV, a subsidiary of Pacific Century CyberWorks (PCCW), will be selling the stake to Softbank Inv for $18.67 million and Softbank Finance Corp, a holding company of Softbank Inv, will acquire a 10 pct interest in Morningstar Asia held by Morningstar Inc for the same amount.

At present, AIV owns a 51.1 pct interest in Morningstar Asia and Morningstar Inc owns a 49.9 pct of Morningstar Asia.

Upon completion of the transactions, AIV and Morningstar Inc's interest in Morningstar Asia will be diluted to 40.1 pct and 39.9 pct respectively.

AIV is 70 pct and 30 pct owned by PCCW and Pacific Century Insurance (0065-HK) respectively.

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