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Politics : Formerly About Applied Materials

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To: StanX Long who wrote (61637)	3/7/2002 3:19:39 AM
From: StanX Long	Read Replies (1) of 70976

Korean Finance Minister Doubts Hynix's Survival Alone (Update2) By Ian King and Yoolim Lee quote.bloomberg.com Seoul, March 7 (Bloomberg) -- South Korean Finance Minister Jin Nyum cast doubt on whether Hynix Semiconductor Inc. can stay alive without selling its main business to Micron Technology Inc., calling it ``a dangerous assumption.'' The survival of the world's third-biggest chipmaker depends on ``many factors,'' Jin told a local radio station. They include a rebound in global chip prices and obtaining enough money to keep investing in technology, he said. His comments, a day after Hynix said it would rebound from a record $3.8 billion annual loss, sent Hynix shares plunging by the daily 15 percent limit. The stock slid by half in 12 months after two multibillion-dollar creditor bailouts. A sale to Micron would allow the banks, all state-controlled, to cut their exposure to the ailing company. Should the company's financial health improve, however, creditors may be tempted to raise their asking price, jeopardizing the sale.

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