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

To: LOGAN12 who wrote (4150)	2/28/2000 11:29:00 PM
From: debra vogt	Respond to of 6021

Related Quotes ^DJI ^IXIC ^SPC ^IIX ^PSE 10038.65 4577.85 1348.05 612.53 1125.86 +176.53 -12.65 +14.69 -6.04 -6.54 delayed 20 mins - disclaimer Monday February 28, 10:43 pm Eastern Time Softbank aims for 49 pct stake in NCB-CFO . Last week a consortium led by Softbank won the official go-ahead to buy NCB, which collapsed under the weight of bad loans made during an asset price bubble a decade ago. NCB was placed under state control in December 1998 for rehabilitation and eventual resale. The Softbank-led group, which includes leading non-life insurer Tokio Marine & Fire Insurance Co and top leasing company Orix Corp , will pay 101 billion yen ($907 million) for NCB and has asked the government for an injection of 240 billion yen. ``We are planning to get a 49 percent stake,' Kitao said during a speech at a seminar in Tokyo. He added that the consortium will make a clear separation between the ownership and the management of the bank. He said the new NCB will focus on lending to small and medium-sized companies because traditional lending to larger corporations does not generate much profit. Regarding Softbank's planned online banking project with Suruga Bank Ltd , a leading regional bank, Kitao said he hopes to spin out that project as a separate entity and to take it public in the future. In late January, Softbank said it had agreed with Suruga Bank, based in Shizuoka, central Japan, to set up an online bank branch this year. -------------------------------------------------------------------------------- Related News Categories: US Market News --------------------------------------------------------------------------------