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Politics : Formerly About Applied Materials

AMAT 252.25

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Nov 28 9:30 AM EST

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To: StanX Long who wrote (63364)	5/2/2002 1:35:43 AM
From: StanX Long	Read Replies (1) of 70976

Korea Exchange Bank Head Says Hynix Should Be Sold (Update2) By Heejin Koo quote.bloomberg.com Seoul, May 2 (Bloomberg) -- Korea Exchange Bank President Lee Kang Won said Hynix Semiconductor Inc. should be sold and creditors haven't ruled out the possibility of further talks with Micron Technology Inc. ``Creditors have not changed their original position that Hynix should be sold,'' Lee said. ``I hope that a channel of further talks with Micron has not been severed.'' Hynix's board overruled its creditors this week and rejected an accord to the company's main computer memory chip business to Boise, Idaho-based Micron. The board called the $3 billion offer inadequate and said it the company could survive on its own. Creditors, which are owed almost $5 billion, may be able to replace management next month, when they are due to convert 2.9 trillion won ($2.2 billion) of Hynix bonds into the chipmaker's shares. The debt-equity swap will give creditors as much as 75 percent of the company after the shares lost three-quarters of their value this year.

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