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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 159.42

-1.2%

Jan 16 9:30 AM EST

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To: Ramsey Su who started this subject	12/15/2002 11:19:07 AM
From: Cooters	Read Replies (1) of 197260

Merger between KTF and KT ICOM to increase 3G investment 3gnewsroom.com December 15, 2002 Yun Jeong-Han showcasing the 3G services available under GCUBE, the 3G brand name for KT ICOM South Korea's second biggest mobile carrier KTF said it has agreed to merge with 3G mobile unit KT ICOM to create a new company that will launch its business in March 1 2003. KT ICOM is a specialized company in the KT group established to develop the WCDMA IMT-2000 business. Both KTF and KT ICOM are units of KT Corp., South Korea's largest fixed-line carrier. The merger is aimed to boost investment in 3G mobile service and to avoid duplicate investment in the 3G mobile business between the sister companies. KTF has bought a stake of 46.58% in the unlisted 3G unit from KT, and another 25.69% from other shareholders at 1.32 trillion won ($1.09 billion) in total, the company said. The shareholders at KTF are to meet January 29 to approve the merger. Under the current law, KTF is not required to buy back shares of shareholders opposing the deal. In the 2002 FIFA World Cup, KT ICOM demonstrated international videophone roaming using WCDMA platform between Korea and Japan for the first time in the world. KT ICOM is a strong supporter of WCDMA standard and an official said "As more countries adopt WCDMA as their standard, the price of handsets will decline due to the economy of scale." and added its videophone service delivers clearer images than cdma2000 1x EV-DO. A spokeswoman at the recent ITU Telecom Asia 2002 event said its 3G services under the brand name GCUBE will be launched in mid-2003. At the show KT ICOM showcased GCUBE services providing video telephony, multimedia messaging and Video-On-Demand service.

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