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Technology Stocks : Softbank Investment International (HK0648)
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To: Yamakita who started this subject1/30/2001 9:20:07 PM
From: ms.smartest.person  Read Replies (1) of 615
 
Wednesday, January 31 8:32 AM SGT BUSINESS: Search over as Softbank, e2-Capital form union

E2-Capital has teamed up with Softbank Investment International (Strategic) to form an e-business joint venture, four months after a similar alliance with Netalone.com fell through.

Softbank and e2-Capital suspended trading yesterday pending an announcement. Company sources said the stocks would be suspended today.

Softbank is a substantial shareholder of e2-Capital, holding 5.64 per cent, or 65 million shares.

A tie-up would forge closer links between the companies and was expected to yield synergies to both, one company source said.

E2-Capital primarily provides investment banking services to technology companies, while Softbank invests in start-ups or IT-related companies through its worldwide venture-capital arms.

The deal follows a number of ill-fated negotiations between e2-Capital and interested parties in the past four months.

Last September, e2-Capital and Internet portal operator Netalone.com planned to merge their online business solution divisions, but the plan collapsed amid souring sentiment of technology stocks.

It is understood e2-Capital attempted to form similar joint-ventures with a couple of listed Internet investment firms.

An e2-Capital spokesman yesterday declined to comment further on the latest deal, only saying there was a possible transaction in the making.

E2-Capital closed Monday - the last trading day prior to the suspension - at 42 HK cents and Softbank HK$1.16.

asia.dailynews.yahoo.com
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