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Technology Stocks : Echostar Comm. -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Clutts who wrote (1236)	2/1/2000 4:34:00 PM
From: Stoctrash	Read Replies (1) \| Respond to of 1394

maybe not.... ====== Today's Headlines: FLASH: GM Restructures Hughes Interest FLASH: GM Restructures Hughes Interest General Motors today announced a restructuring of its economic interest in Hughes Electronics, including an offer to repurchase GM stock in exchange for $8 billion in Hughes shares and a contribution of $7 billion worth of Hughes stock for GM benefit plans. The news came soon after a GM board meeting in Detroit. As part of the transactions, GM said it would issue about $15 billion in Hughes shares, lowering its economic interest in the satellite powerhouse from 68 percent to 35 percent. The company stressed that it won't totally give up Hughes. The auto giant said that it has no plans to spin off or split off the satellite unit. However, GM said it will continue to evaluate the Hughes ownership structure in the future. A restructuring of the relationship between the two companies has been rumored for years on Wall Street and in industry circles. More details on the transaction were expected from the auto giant Tuesday afternoon.