Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: ghengis2 who wrote (5186)	6/1/2000 1:17:00 PM
From: Edwin S. Fujinaka	Read Replies (2) \| Respond to of 6020

Perhaps I underestimated the effect of the Son/Taiwan connection. We'll have to see if this is retribution for Son dealing with Taiwan and if it will eventually affect Softbank's relationship with China: UTStarcom Dn 52%; China To Review Equip Deployment Dow Jones Newswires By John Shipman NEW YORK -- UTStarcom Inc. (UTSI) shares lost more than half their value Thursday after the telecommunications equipment provider said deployment of its products is under review by the Chinese Ministry of Information Industry. Shares of the Alameda, Calif., company, which went public in March, earlier fell as low as 18 17/64, past the previous floor of 27 5/8 set April 27. The stock recently traded at 21 3/4, down 16 1/2, or 43.1%, on volume of 5.4 million, compared with a daily average of 763,300. In a press release Thursday, UTStarcom said it has learned of an internal notice issued by the ministry announcing a review of "PHS-based telecommunications equipment for future installation" into China's telecommunications infrastructure. During the review period, expected to be about 60 days, UTStarcom was requested to temporarily halt new deployments of its PAS wireless telephone access system. The company said it believes the review will have no "material adverse effect" on its second- and third-quarter financial results. "In spite of the action taken by the MII, we firmly believe that the potential prospects for UTStarcom and its investors are excellent," said UTStarcom Chief Executive Hong Lu said in the press release. The press release also said the company had not received any formal notification from the MII regarding the review, and it is not the "specific subject of this interim review." Company officials and analysts were not immediately available for comment. - John Shipman, Dow Jones Newswires, 201-938-5171 --------------------------------------------------------------------------------