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To: Cosmo Daisey who wrote (51028)	11/19/1999 9:54:00 AM
From: Ruffian	Respond to of 152472

Freetel-MSFT> KT Freetel to Sell 100 Bln Won Equity-Linked Bonds to Microsoft KT Freetel to Sell 100 Bln Won Equity-Linked Bonds to Microsoft Seoul, Nov. 19 (Bloomberg) -- Korea Telecom Freetel Co., South Korea's No. 2 mobile phone company, will sell 100 billion won ($84.7 million) worth of bonds with equity warrants to Microsoft Corp., and use the money to expand its Internet business. The bonds, to be sold Nov. 25, will be the first bond sale by a company without using investment banks to arrange the sale, according to the state-run Financial Supervisory Services, which oversees the securities industry. That should save KT Freetel from paying a commission, that in Korea usually runs to 0.3 percent of the size of the sale. KT Freetel, a unit of state-run Korea Telecom this week agreed to sell a 9.2 percent stake to Microsoft, Qualcomm Inc. and Capital Communications CDPQ Inc. of Canada. The three foreign investors bought KT Freetel's new shares at between 50,000 won and 55,000 won, paying a premium of as much as 12 percent to the stock's close last Friday. NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min.