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

To: bobkansas who wrote (3873)	2/13/2000 10:57:00 PM
From: TobagoJack	Respond to of 6018

Been at meeting in the morning, now back, look in screen, and presto, we are all richer. Bought 16000 shares starter stake in #648 (not that there is any news and certainly not intending for a quick gain) and wrote it down to zero on the trusty Quicken 2000. Also bought 30,000 shares of HK Telecom, now at HK$ 26. Peak pre-crisis price was HK$ 36. PCCLF will probably buy for cash and shares, offering some premium. Singapore Tel pulled out. Teleco can not compete with own stock price. Just the punt for the day. Additional news clip on the SFTBF + IFC deal ... more management fees for now and gains for later ...Softbank, IFC in $500 Mln JV to Bring Emerging Nations Online 2/13/0 19:20 (New York) Softbank, IFC in $500 Mln JV to Bring Emerging Nations Online Tokyo, Feb. 14 (Bloomberg) -- Softbank Corp. and the private lending arm of the World Bank said they will commit $500 million in total to nurture Internet businesses in about 100 developing countries. The International Finance Corp. and Softbank, Japan's largest Internet investment company, will pitch in $200 million to set up Softbank Emerging Markets to provide funding and advice to Internet startups in emerging nations, IFC and Softbank said in a release. World Bank Group President James Wolfensohn and Softbank chief executive Masayoshi Son are scheduled to hold a joint press conference this morning in Tokyo. Softbank will provide $150 million of the initial investment in Softbank Emerging Markets, while IFC will provide the other $50 million. The joint venture will be based in Silicon Valley, California. The IFC will also invest in Softbank's Internet investment funds for Latin America and China, bringing the total funds provided to the effort to $500 million, they said. ``This investment will accelerate the inclusion of the developing countries in the information revolution,' Wolfensohn said in a statement. The IFC was established in 1956 to promote private sector activity in developing countries. Softbank has stakes in firms such as Yahoo! Inc. and E*Trade Group Inc. Softbank Emerging Markets plans to announce its first investment in an Internet company in May. The newly created incubator of Internet companies aims to establish a global center to aid the transfer of the latest Internet technologies to developing countries. --Hanabusa Midori in the Tokyo newsroom (813) 3201-8371, with reporting by Siobhan Hughes in Washington (202) 624-1943/ba/pjg Story illustration: To chart the recent performance of Softbank shares, type SFTBF US <Equity> GP O <D> GO Company news: 9984 JP <Equity> CN SFTBF US <Equity> CN