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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Frederick Langford who wrote (33760)	11/26/1999 12:15:00 PM
From: SouthFloridaGuy	Respond to of 108040

Korea Thrunet Says Microsoft More Than Doubles Stake Seoul, Nov. 24 (Bloomberg) -- Korea Thrunet Co. said Microsoft Corp. more than doubled its stake in the provider of high-speed Internet access in Korea to 10.5 percent, sending its shares up 17 percent. Seoul-based Korea Thrunet, which went public last week, said Microsoft exercised an option to buy 4.52 million shares for $8.08 each, or $36.5 million, about 20 percent of their current value. Microsoft's stake is now 7.54 million shares. Korea Thrunet shares rose 5 13/16 to 39 5/16 on the Nasdaq Stock Market, increasing the value of Microsoft's stake to more than $296.4 million. The purchase date wasn't disclosed. By exercising the option, Redmond, Washington-based Microsoft can designate one seat on Korea Thrunet's board. Korea Thrunet was the first Korean company to go public on the Nasdaq market. It raised $182 million in its Nov. 16 initial public offering.