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Technology Stocks : UCOMA UnitedGlobalCom
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To: .com who wrote (75)2/6/1999 6:07:00 PM
From: Mad2   of 489
 
Discount Investment to own 3% of UPC (Note there is a typo in the article, Discount Investment to buy $45 mil shares). It's interesting to note Discount investment dropped on news they aren't getting a 20% portion of the deal
Copyright 1999 The Jerusalem Post
The Jerusalem Post

February 4, 1999, Thursday

SECTION: ECONOMICS; Pg. 14

LENGTH: 1445 words

HEADLINE: TASE down for 2nd day * Rate uncertainty clouds FTSE

BYLINE: Bloomberg

HIGHLIGHT:
Trading Floors

BODY:

SHARES

TEL AVIV

Stocks dropped for a second day, led by Bezeq Ltd., as coalition partners demanded more than NIS 1 billion of extra spending to support the 1999 budget.

Until the budget passes, the government will operate each month according to a provisional budget based on last year's spending divided by 12 and adjusted for inflation.

The Maof Index of the Tel Aviv Stock Exchange's 25 largest companies yesterday dropped 1.04 percent to 299.79 after losing 0.85 percent on Tuesday. Twenty-one stocks dropped, three rose and one was unchanged.

Discount Investment Corp. dropped 1.1 percent to NIS 115.7. The holding company said yesterday it will purchase $ 45 million shares in United Pan-Europe Communications NV, the largest Dutch cable-television company. The holding company has an option to buy up to $ 90 million of shares, or 3 percent of UPC, at a 10 percent discount. Investors were disappointed Discount Investment will own only 3 percent of the cable company after Israeli papers had reported it would hold up to 20 percent, traders said.
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