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To: bananawind who wrote (2020)	10/2/1999 7:42:00 AM
From: GO*QCOM	Respond to of 13582

Looks like Siemens is completing divestitures and is underway in tis reorganizing its company for a move to the US STOCK MARKET.Seems something big could be up with all this activity.>>>>>>>>> Siemens on course for radical revamp 12:15 p.m. Sep 28, 1999 Eastern MUNICH, Sept 28 (Reuters) - German industrial group Siemens AG said on Tuesday it was on track to spin-off nine units with combined revenues of at least 17 billion marks ($9.13 billion) by next March in a restructuring drive to help secure a U.S. listing in 2001. Siemens, with interests in electronics, telecommunications and engineering, announced a radical 10 point restructuring plan last November in a bid to enhance efficiency and profitability and get in shape for a U.S. stock market listing. ``We are very much on schedule with our 10 point plan,' Siemens Chief Financial Officer Heinz-Joachim Neubuerger said after the company announced it expected to generate a single digit billion marks sum from its divestment plan. Last November, Siemens said it would withdraw from the components segment, including its major Infineon semiconductors division, Epcos passive components unit and Electromechanical Components division (EC). On Tuesday, Siemens said it had completed the sale of the EC division -- a major step to completing its revamp -- to U.S. diversified manufacturing and services company Tyco International for around two billion marks. Siemens said it expected to reap a three digit million marks extraordinary income from the sale. Its EC division posted a pre-tax profit of 45 million marks in the 1998/99 business year. It employs 12,400 people and netted sales of 1.5 billion marks in 1998/99. The flotation of its majority owned Epcos division, a joint-venture with Japan's Matsushita Electric Industrial Co, is also on track with its stock market debut in Frankfurt and New York scheduled for next month. Both Siemens and its Japanese partner plan to reduce their stake in Epcos to 12.5 percent plus one share. Siemens currently has 55 percent and Matsushita 45 percent. Epcos said on Sunday it will issue up to 49 million ordinary shares in what will be one of Germany's biggest flotations this year. The firm's turnover in 1998/99 was around 2.2 billion marks. Epcos is the first of Siemens' divisions to be floated as part of its restructuring programme. Early next year it also plans to float its semiconductor unit Infineon Technologies. With annual sales of around 6.7 billion marks, the Infineon Technologies spin off is scheduled to complete the divestment plan with a bang. Siemens is also scheduled later this year to sell a cable business, its Siemens Nixdorf Retail + Banking Systems unit and its Vakuumschmelze GmbH business. It has already sold off other units, including an energy cable business bought by Italian tyre and cable group Pirelli. The company said the divestment programme would cost it between 500 and 600 million marks in earnings before interest and taxes (EBIT). ($1-1.862 Mark) View Next 10 Messages \| Respond \| Previous \| Next Bookmark This Subject View SubjectMarks Terms of Use Enter symbols or keywords for search QuotesStock TalkChartsNewsPeople Symbol lookup SI NavigationHomeSite Map------------------ChartsCustomizeFAQFREE RegistrationMarket InsightMarket ToolsMembership Sign-UpMessage CenterNetSearchNewsPeopleMarksPeopleSearchPortfolioQuotesStockTalkStockTalk SearchSubjectMarks Subject Titles Only Full-Text This Subject Only Quotes are delayed by 20 minutes. Quotes provided by S&P Comstock. Got a comment, question or suggestion

To: bananawind who wrote (2020)	10/2/1999 10:57:00 AM
From: quidditch	Read Replies (2) \| Respond to of 13582

Wu Jichuan has been and probably continues to be the bad cop. My question is, in the best tradition of Orson Welles' classic "The Third Man" (I think is the title of the Vienna post-war skulduggery), if Wu is behind Unicom's (presumably the good cop if it had its way with CDMA) bashing of CCF partners, is Wu's agenda telecom-focused and anti-CDMA, in the same vein that Wu fought fiercely against China Telecom's break-up and de-regulation, or is his agenda simply political in-fighting against Zhu. In the end, I suppose, it doesn't make any difference because either way Wu's agenda will delay rapid authorization of CDMA adoption. Jim, Brian, Steve--any thoughts? Best. Steve