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Technology Stocks : Micron Only Forum

MU 253.17

+6.4%

3:59 PM EST

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To: Bipin Prasad who started this subject	2/7/2002 2:43:44 AM
From: Ohkami	of 53903

Micron Asks For KRW1.5 Trillion In New Loans For Hynix DOW JONES NEWSWIRES SEOUL -- Micron Technology Inc. (MU) has asked creditors of Hynix Semiconductor Inc. (Q.HYY) to provide new loans of 1.5 trillion won ($1=KRW1,318) in return for its acquisition of the South Korean chipmaker's memory operations for about $4 billion, reports the Chosun Ilbo Thursday. "Creditors are currently opposed to Micron's proposal due to its demand for new loan injections and write-offs," a member of the Hynix restructuring committee was quoted as saying. Hynix and Micron remain tightlipped about details of ongoing talks. Officials at Korea Exchange Bank (Q.KEB), Hynix's main creditor, and the creditors-led restructuring committee declined to comment. (This story was originally published by Dow Jones Newswires) Copyright (c) 2002 Dow Jones & Company, Inc. All Rights Reserved Updated February 6, 2002 8:40 p.m. EST online.wsj.com

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