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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 163.32

+2.3%

Nov 21 9:30 AM EST

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To: Jon Koplik who wrote (21874)	1/24/1999 10:26:00 PM
From: SKIP PAUL	Read Replies (2) of 152472

Who is Callahan Associates International? Sunday January 24, 8:30 pm Eastern Time Korea Telecom Freetel confirms $400 mln investment SEOUL, Jan 25 (Reuters) - Korea Telecom Freetel said on Monday U.S.-based Callahan Associates International has agreed to invest $400 million in the Korean mobile phone service provider. Korea Telecom Freetel, a subsidiary of state-run Korean Telecom, exchanged a memorandum of understanding last week with Callahan, and the two companies planned to sign a final contract around the end of February, a Freetel spokesman said. He said Callahan would become the second largest shareholder of Freetel, but further talks would take place before finalising the size of the stake and other details. Korea Telecom Freetel first said it was negotiating such an investment in December. The investment will reduce Korea Telecom Freetel's debt-to-equity ratio to 240 percent from 700 percent at present, he said. Freetel would also use the funds to expand facility investments, he added. Korea Telecom Freetel is the country's second largest mobile service provider, with more than 2.3 million subscribers. Korea Telecom has 33.3 percent stake in Freetel.

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