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

To: ms.smartest.person who wrote (395)	4/5/2000 11:22:00 PM
From: Bruce Byall	Read Replies (1) \| Respond to of 615

Wednesday April 5, 10:48 pm Eastern Time Softbank details JV with chinadotcom HONG KONG, April 6 (Reuters) - Softbank Investment International (Strategic) Ltd said on Thursday it was setting up a 50/50 percent joint venture with chinadotcom corp (NasdaqNM:CHINA - news) to develop information technology businesses in Asia. In a statement, the Hong Kong unit of Japan's Softbank Corp said the venture would be done through a share swap agreement with chinadotcom. Softbank would swap 21.538 million of its new shares at HK$7.23 each, or up to US$20 million, for 200,722 new chinadotcom common stock at US$99.64 each. Softbank Investment, formerly known as Cheung Wah Development Co, was trading around HK$4.225 per share shortly after the market opened on Thursday. Chinadotcom, listed on the U.S. Nasdaq, closed at US$55.25 on Wednesday. The Softbank Investment shares involved in the swap agreement represent 1.13 percent of the company's enlarged share capital. Softbank Investment said in its statement the alliance with chinadotcom would facilitate faster expansion of its business in the Greater China region.