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To: eabDad who wrote (41716)	12/25/1998 10:32:00 PM
From: Chas	Respond to of 53903

This is the way I think it would work possibly. Hyundai gets the higher ownership percentage of the new company. LG gets the lesser percentage. With say 1/2 of each equity being existing debt for rough numbers, this being held by banks, the banks or the companies would in turn would sell that debt to foreign investors. Now it goes like this hyundai would still have controlling interest, LG would end up holding the bag, the new foreign investors hold the rest various percentages depending on how many. This would cut the overhead of loan interest payments and the merger would eliminate some parts of the company where duplication exists and reduction of employees. thus a more efficient company and will have a better position in the world DRAM ranking and share of market. I am sure there are more combination of senarios that could happen, including LG flat out refusing the merger decision and accepting Gov. punitive actions, and keeping the company the way it is and ride it out hoping the improving market will carry them through. Sounds risky though, I would not want to be against the Korean government and make their plan of reform fail, might end up with a horse's head in their bed. It will be interesting to watch this play out. Good trading.