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Technology Stocks : Altaba Inc. (formerly Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (3159)	11/23/1997 7:18:00 PM
From: fut_trade	Respond to of 27307

Thanks William. That's what I suspected. Peter

To: Bill Harmond who wrote (3159)	11/23/1997 7:38:00 PM
From: santhosh mohan	Read Replies (1) \| Respond to of 27307

I think Shankar's point is that Softbank may have to divest at least partially to shore up its finances and/or fend off bank loan non-renewals. Are you aware of any stipulation that Yahoo be given first right to buy back shares held by Softbank. I doubt if any venture capitalist would agree to a ceiling on the price they can obtain for their investment. Nobody is suggesting that several million shares held by Softbank will hit the market at one time. But a Form 144s with intention to sell is not out of the realm of possibility!

To: Bill Harmond who wrote (3159)	11/23/1997 7:48:00 PM
From: Rational	Respond to of 27307

William: I am not sure if you are aware of standard corporate debt covenants. If a borrower's net-worth falls below a pre-specified (bond indenture) threshold, the debt covenants (even under normal circumstances of the economy, i.e., no capital crunch and no change in central bank rules) can legally: * bar the borrower from making dividend payments, and/or * force a restructuring of the company. The second condition will kick in even if the borrower (company) has not actually defaulted. Banks can demand, legally, as per the debt covenants that the borrowing company present a consolidated statement of its balance sheet, showing its net-worth. Thus, legally, banks do not have to wait until a borrowing company has defaulted to demand a restructuring, which means a reduction in debt:equity ratio. Sankar