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Technology Stocks : Softbank Investment International (HK0648)

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To: Yamakita who started this subject	10/26/2000 1:52:51 PM
From: ms.smartest.person	of 615

WSJ - HK Softbank Invest Hldrs OK Stake Buy In Morningstar Asia October 25, 2000 Dow Jones Newswires HONG KONG -- Softbank Investment International (Strategic) Ltd. (H.SBI) shareholders Wednesday approved the company's purchase of a 10% stake in a joint venture between Pacific Century CyberWorks Ltd. (H.PCW) and U.S.-based mutual fund rating firm Morningstar Inc. The Hong Kong-listed vehicle of Japan's Softbank Corp. (J.SFT) will pay US$2.4 million in cash to CyberWorks for the minority stake in Morningstar Asia Ltd. Softbank Investment's holding company, Softbank Finance Corp., had earlier bought 10% in the joint venture from Morningstar for the same amount. Before the acquisitions, CyberWorks and Morningstar held 50.1% and 49.9% in the venture. Their stakes will fall to 40.1% and 39.9% after the cash injection from the two Softbank units. Softbank Investment shareholders also approved a proposal to turn Morningstar Asia into a vehicle to operate financial services Web sites for investors in Asian stocks and mutual funds. Softbank Investment shares closed Wednesday up 2 HK cents, or 3.9%, at 54 HK cents. -By Kenneth Wong, Dow Jones Newswires; 852-2802-7002; kenneth.wong@dowjones.com -------------------------------------------------------------------------------- URL for this Article: interactive.wsj.com -------------------------------------------------------------------------------- Copyright © 2000 Dow Jones & Company, Inc. All Rights Reserved. Printing, distribution, and use of this material is governed by your Subscription Agreement and copyright laws. For information about subscribing, go to wsj.com Subscription may be required to view article. Used with permission from The Wall Street Journal, WSJ.com. Copyright 200__ Dow Jones & Company, Inc. All rights reserved.

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