And, mathematically, there is always another 80% fall available ... my even last 300 shares of 9984 for old times sake is feeling heavy when compared to a nice platinum watch.
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Softbank may freeze Euro ventures
By Mariko Ando, CBS.MarketWatch.com
Last Update: 3:55 AM ET Dec 7, 2000 NewsWatch
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TOKYO (CBS.MW) -- Japanese Internet investor Softbank Corp. has frozen joint ventures with News Corp. in London and with Vivendi SA in Paris, according to a published report.
Both ventures had been aimed at moving U.S. Internet firms into Europe, but Softbank decided to take these drastic steps amid unfavorable market conditions in the U.S. and Europe, the Asian Wall Street Journal reported Thursday, citing a company official.
Softbank was not immediately available for comment.
In London, EVenture, an equally owned venture of Softbank and News Corp's (NWS: news, msgs) epartners, was shut down last week and its 12 U.K. employees lost their jobs, the report said, quoting Mark Booth, epartners' chief executive.
At the same time, a Paris-based joint venture between Softbank and Vivendi (V: news, msgs), dubbed @viso, has put further investment plans on hold because of recent stock market volatility, the report said, citing @viso's director of marketing and communications Dainel Scolan.
Softbank's shares tumbled 5.8 percent, or 350 yen, to close at 5,650 yen in Tokyo. Shares have lost about 81 percent of their value since hitting a year high of 29,670 yen in May.
News Corp. shares closed down 1.7 percent, or 30 cents, at 16.95 Australian dollars on Thursday in Sydney. Shares of Vivendi closed at 13.31 dollars, up 13 cents or 0.95 percent in New York on Wednesday.
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