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Technology Stocks : Micron Only Forum

MU 227.11

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To: Zeev Hed who wrote (52039)	10/17/2000 8:09:10 PM
From: nolimitz	Read Replies (3) of 53903

Tuesday October 17, 7:57 pm Eastern Time Kobe Steel to sell chip unit to Micron for Y63 bln TOKYO, Oct 18 (Reuters) - Japanese steelmaker Kobe Steel Ltd said on Wednesday it is selling its majority stake in KMT Semiconductor to joint venture partner Micron Technology Inc (NYSE:MU - news), the biggest U.S. maker of memory chips, for 63 billion yen ($584.4 million). Kobe currently owns 75 percent of KMT, and the remaining 25 percent is owned by Micron Technology. Kobe Steel will sell its stake in KMT Semiconductor by the end of March, 2001, it said. The move is part of Kobe's medium-term business plan which is aimed at focusing more clearly on the company's main business of making steel. Kobe's shares on Tuesday rose 1.59 percent to 64 yen.

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