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Technology Stocks : The *NEW* Frank Coluccio Technology Forum
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To: Frank A. Coluccio who wrote (4325)11/15/2001 5:56:48 AM
From: elmatador  Read Replies (1) of 46821
 
Microsoft buys a Telco. After many investments -tiptoeing around real telecoms infrastructrure- MSFT decides to go for it and buy a stake on a Telco.

to Buy 5 Pct Stake in Korea Telecom-Paper

Nov 13, 2001 - SEOUL (Reuters) - Microsoft Corp is planning to acquire a five percent stake in South Korea's state-run Korea Telecom for an estimated $600 million, local daily Financial News reported in its Internet edition on Tuesday.

South Korea's largest fixed-line carrier, which is 40.1 percent state-owned, said earlier this month that the government would sell off the company by the end of 2002 at the earliest to foreign and local investors.

``We will be able to sign a formal contract as early as the end of this month,'' the newspaper quoted an unnamed official at Microsoft as saying.

The newspaper quoted the official as saying Microsoft and Korea Telecom agreed to a strategic tie-up in wired and wireless telecom businesses.

``We have no comment to make,'' a Korea Telecom spokesman said. He declined to give his name.

Korea Telecom plans to issue new shares in February of 2002 and sell them to Microsoft, the newspaper said.

Last month, Microsoft agreed with Samsung Electronics ( 05930.KS <http://05930.ks/> ) to jointly develop and market consumer PCs and electronic home appliances.

Korea Telecom shares ended up 3.81 percent or 1,900 won at 51,800 won on Tuesday, while the broader index closed up 0.74 percent.
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