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Technology Stocks : Loral Space & Communications

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To: Beefeater who wrote (2866)	5/7/1998 2:38:00 AM
From: brian h	Read Replies (2) of 10852

Beefeater and all, What happen? Is LOR close to buy out all Hyundai's sat business and GSTRF's right for $210 million? Any clue? Hyundai Group to generate $8.48 bln foreign capita SEOUL, May 7 (Reuters) - South Korea's Hyundai Group (HYGR.CN) said on Thursday it would generate $8.48 billion in foreign capital by 2002 through subsidiary sales, joint ventures, transfer of businesses and overseas bond offerings. Hyundai Group, the nation's largest conglomerate in terms of assets, said in its restructuring blueprint that the foreign capital inducement plan was adopted to ease a foreign currency shortage. The group said it had so far raised $1.35 billion by selling Hyundai Electronics America's semiconductor unit Symbios Inc to U.S.-based Adaptec Inc (ADPT - news) and through bond offerings by Hyundai Motor Co (05380.KS) and Hyundai Engineering and Construction Co (00720.KS). Hyundai said it also was close to selling its stake in Globalstar Limited to Loral Space and Communications (LOR - news) for $210 million. Brian H.

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