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Technology Stocks : Softbank Group Corp -- Ignore unavailable to you. Want to Upgrade?

To: barbie13607 who wrote (2785)	12/22/1999 1:48:00 AM
From: mact	Read Replies (1) \| Respond to of 6018

this could certainly explain the "the limit" tonight....whoops, guess this story was already posted...sorry. By Bill Clifford, CBS MarketWatch Last Update: 3:30 AM ET Dec 21, 1999 Listen to Internet Daily Internet Daily Europe New! Internet Daily Japan's Softbank Corp. and a unit of South Korea's Trigem Computer Inc. announced a plan Tuesday in Seoul to set up a joint venture to invest in Korea's rapidly growing Internet business market. Today on CBS MarketWatch Net fever on Street Fed stands pat on rates Net Stocks: Shares soar after FOMC meeting Liberate Tech's narrower-than-expected loss M&A lifts Goldman Sachs profit More top stories... CBS MarketWatch Columns Updated: 12/21/99 6:59:58 PM ET Softbank chief Masayoshi Son, an ethnic Korean who looks at the country as a potential "strategic Internet stronghold," said his company and Naray Mobile Telecom Inc. will set up Softbank Holdings Korea in the first half of next year. Naray, which began as an electronic pager business and now provides Internet international telephone services, will own 20 percent of the venture. Softbank (SFBNF: news, msgs) will own 80 percent. Son said the holding company will spawn and investment arm, Softbank Ventures Korea, to provide $100 million in financing for promising Internet start-ups in the next two years. About $20 million of that will be invested in existing Softbank ventures like E-Trade Korea (EGRP: news, msgs) and Yahoo Korea (YHOO: news, msgs). Figures for Internet users in Korea vary, but the estimated range is 6.2 to 7.2 million for the year, or about double the number in 1998. Softbank shares slid 1700 yen, or 2.5 percent, to close at 67,800 in Tokyo. The stock's all-time high is 79,400 yen, touched on November 25.