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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Poet who wrote (66691)	2/14/2000 7:51:00 AM
From: Labrador	Respond to of 152472

Sunday February 13, 10:24 pm Eastern Time Comments on CITIC and Lucent and the effect on QCOM? -- I presume that royalties flow to QCOM, and since Q no longer manufacturers, this really is a positive to Q, albeit a negative to Kyocera and other mfgs? CITIC Pac parent, Lucent to develop CDMA in China HONG KONG, Feb 14 (Reuters) - CITIC Pacific Ltd chairman Larry Yung said on Monday the company's Beijing parent has signed an agreement with Lucent Technologies (NYSE:LU - news) to develop the CDMA mobile phone technology in China. Yung, speaking to reporters after the company held an extraordinary general meeting of shareholders, declined to give further details of the agreement between the U.S. telecom equipment giant and China International Trust and Investment Corp (CITIC Beijing). ``CITIC Beijing had signed an agreement with Lucent to develop CDMA,' Yung told reporters. Yung, who also serves as a director of CITIC Beijing, did not rule out the possibility that the parent would inject the Lucent joint venture into the Hong Kong-listed CITIC Pacific. ``CITIC Pacific will work closely with our parent in the field of infrastructure and telecom projects,' he added. At the extraordinary general meeting, CITIC Pacific shareholders approved the group's purchase of a 60 percent interest in a joint venture which will buy a fixed optical fibre telecom network from China's People's Liberation Army for two billion yuan (HK$1.887 billion). The shareholders also approved the proposed purchase of a 50 percent stake in CITIC Guoan from CITIC Beijing for two billion yuan. Guoan holds a six percent stake in China United Communications Corp Ltd (China Unicom) as well as four GSM networks, 10 percent of CITIC Securities Co Ltd. It also owns the CITIC Building in Beijing. CITIC Pacific is funding the investments by issuing up to 100 million new shares at a price of HK$40.38 each, expected to result in net proceeds of up to HK$3.94 billion. biz.yahoo.com