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To: JohnG who wrote (12017)	6/11/2000 12:43:00 PM
From: JohnG	Respond to of 13582

Korea Telecom to take over Hansol M.com JOhnG orea Telecom buying Hansol M.com By Steve Gelsi, CBS.MarketWatch.com Last Update: 11:14 AM ET Jun 10, 2000 NewsWatch Latest headlines SEOUL (CBS.MW) -- Korea Telecom said Saturday it may announce a takeover of wireless firm Hansom M.com as early as Monday. The deal by the state-run phone carrier (KTC) is ?almost a done deal,? Hwang Woo-yeon, a Hansol M.com spokesman, told Reuters. The move comes amid pressure by the government to privatize Korea Telecom and forge alliances with foreign telecom firms. The deal calls for Korea Telecom acquiring 49.84 percent of Hansol M.com from its three major shareholders -- Bell Canada International (BCICF), Hansol Group and American International Group (AIG). Bell Canada International holds 20.97 percent of Hansol M.com; AIG owns 13.98 percent and the Hansol Group holds 14.89 percent. Hwang at Hansol M.com said Korea Telecom was expected to offer cash and shares it owns in SK Telecom(SKM). Officials at both companies said the purchase price of Hansol M.Com shares have yet to be determined. Korea Telecom may have a better chance of getting a license for IMT-2000, an improved next-generation mobile service, if it takes over Hansol M.com, analysts said. U.S.-listed shares of Korea Telecom rose 1 1/8 to 45 1/4 on Friday. Bell Canada rose 1 3/8 to 29 7/8; AIG fell 2 1/16 to 117 9/16 and SK Telecom rose 1 9/16 to 41 3/4. Steve Gelsi is a reporter for CBS.MarketWatch.com.