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Technology Stocks : C-Cube

CUBE 36.42

+1.1%

Dec 11 3:59 PM EST

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To: DiViT who wrote (33524)	5/30/1998 11:18:00 PM
From: BillyG	Read Replies (2) of 50808

Philips in a buying mood By Reuters Special to CNET NEWS.COM May 30, 1998, 1:25 p.m. PT AMSTERDAM--Philips Electronics said today that it would start to look for acquisition opportunities. "We'll carefully look around to see if we can strengthen the organization by means of an acquisition or of a cooperation," Philips chairman Cor Boonstra said in a brief interview on Dutch television. Asked whether Philips had concrete acquisition projects, he replied: "There are no talks yet." Since Boonstra took over as chairman in October 1996 and promised to deal with loss-makers, underperformers, and noncore businesses, Philips has made a series of major disposals. Just over one week ago, it agreed to sell its 75 percent stake in music and entertainment group PolyGram to Canada's Seagram. Many market players expected Philips would use the proceeds of the sale to buy back its shares. More............... news.com

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