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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Doug who wrote (9239)3/15/1998 9:23:00 PM
From: blue_lotus  Respond to of 152472
 
Seoul aims to allow hostile takeovers in March

SEOUL, March 16 (Reuters) - South Korea's finance ministry on Monday said it was aiming to allow hostile takeovers by foreigners in March.

''We are pushing for an enforcement decree (from the president) in March which will immediately allow foreign hostile mergers and acquisitions,'' said an official at the finance ministry.

South Korea's parliament passed legislation in February which would allow foreigners to buy up to one-third of a company's shares without the approval of the board of directors, The current limit is 10 percent.

But the bill takes effect only with a presidential decree or within 10 months, which ever comes first.



To: Doug who wrote (9239)3/16/1998 7:39:00 AM
From: J. Nail  Read Replies (1) | Respond to of 152472
 
With the markets that most of QCOM's sales come from in the can, I suspect there is a pre-earnings announcement in the very near future. If this is correct and the price breaks the near term support of $45 then the move should test the 35-36.5 area in fairly quick order.


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