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Technology Stocks : Rambus (RMBS) - Eagle or Penguin -- Ignore unavailable to you. Want to Upgrade?

To: MR. PANAMA (I am a PLAYER) who wrote (4772)	6/22/1998 5:12:00 PM
From: Louis XIX	Respond to of 93625

From Reuters, no comment from Intel... Intel declines comment on LG Semicon stake NEW YORK, June 22 (Reuters) - Intel Corp. declined to comment on a report appearing in a Korean newspaper that the microprocessor giant planned to invest up to $1 billion in chipmaker LG Semicon (29890.KS), a unit of Korea's LG Group. Spokesman Tom Waldrop said Intel had no comment on a report that Intel would announce in July plans to invest up to $1 billion in LG Semicon in return for a 20 to 30 percent stake. Earlier, LG Semicon had refused to comment on the reports. The story appeared in in the influential Chosun Ilbo newspaper in Seoul on Saturday, quoting an unnamed source described as a high-ranking official in the financial industry. ''We have regular discussions with many companies worldwide all the time,'' Waldrop said. ''It's our policy not to comment on whether we're having private discussions with any particular company,'' he said. In the wake of the reports, LG Semicon rocketed upward more than 10 percent on Monday on the Korea Stock Exchange before settling back to close up 450 won on the day at 12,050 won. As part of a broad U.S. technology stock rally on Monday, Intel stock swelled $3.81 to $73.81, leading the most active issues on the Nasdaq stock exchange. LG Semicon is a $2.4 billion company within Korea's $73 billion LG Group. Intel and LG Semicon also were part of an announcement Monday with Rambus Inc. (RMBS - news) and Toshiba Corp. (6502.T) that Intel was testing a new type of computer memory based on Rambus technology and built by LG Semicon and Toshiba. The release said that PC makers Compaq Computer Corp. (CPQ - news) and Dell Computer Corp. (DELL - news) planned to ship PCs in 1999 using the new higher-capacity memory chips. Intel officials have told Wall Street analysts that the company was committed to doing what is necessary to help ensure the industry has supplies of necessary computer components, which would include memory chips such as those built by LG. While making no particular commitments, exectutives at Intel have expressed concerns that Asian chipmakers reeling from the effects of the Asian economic crisis not forego investments in future technologies and plant capacity.