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Technology Stocks : Micron Only Forum

MU 265.92

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Dec 19 9:30 AM EST

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To: Fabeyes who wrote (39723)	10/7/1998 11:17:00 PM
From: DJBEINO	Read Replies (1) of 53903

'Big deals' stall over managerial control Oct 08, 1998 - The so-called "big deals" among Korea's big five conglomerates collapsed Wednesday, as the chaebols failed to resolve the question of managerial control over joint ventures and consortia that would emerge from subsidiary swaps. Failure to solve the problems at the corporate level means that the government and creditors are likely to do it for the chaebols. In the big five's negotiations about management structure for six joint operations, the semiconductor industry proved to be the most contentious. Hyundai and LG groups were stalemated over control of a proposed gigantic semiconductor JV, and the two chaebols have sought a foreign consultant to arbitrate the plan. The government has warned the big five -- Hyundai, LG, Samsung, Daewoo and SK groups -- that it would intervene if they fail to pare down their diverse structures in several major industries. The government and creditor banks would force mergers if the corporations refuse to do so on their own, officials have threatened.

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