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Technology Stocks : Softbank Investment International (HK0648) -- Ignore unavailable to you. Want to Upgrade?

To: edkaiser who wrote (297)	3/17/2000 6:27:00 PM
From: Yamakita	Read Replies (1) \| Respond to of 615

This ought to help: ~~~ Chinadotcom in joint venture with Softbank By William L. Watts, CBS MarketWatch Last Update: 10:46 AM ET Mar 17, 2000 NewsWatch HONG KONG (CBS.MW) -- Chinadotcom announced Friday it had inked a memorandum of understanding with Softbank Investment Strategic that will create a $100 million joint venture to provide business and technology consulting services. The new venture will advise and assist Internet companies looking to form joint ventures or strategic partnerships in Asia, the companies said in a press release. The new venture will be created through a share swap, the firms said, but provided no further details. "We are excited about this joint venture agreement and are looking forward to shaping the new company into a dynamic, investment-driven vehicle for promising Internet businesses," said Chinadotcom Chief Executive Peter Yip. Chinadotcom (CHINA: news, msgs), the pan-Asian Web portal and incubator of Internet companies, and Softbank will also work together to invest in new and "high-potential" companies as they enter and expand in the Asian online market, the companies said. Softbank Investment Strategic is a subsidiary of Japanese venture capital firm Softbank Finance Corp. The companies plan to sign a definitive agreement March 31. Shares of Chinadotcom rose 4 3/4, or 4.3 percent, to 114 3/4 in recent trading.