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To: Keith Feral who wrote (21549)	1/19/1999 1:30:00 AM
From: Ruffian	Read Replies (1) \| Respond to of 152472

Sorry, Whisper # Is 63. (see link)> earningswhispers.com

To: Keith Feral who wrote (21549)	1/19/1999 1:31:00 AM
From: Ruffian	Respond to of 152472

This Is Very Good News> 01-19-99 Vodafone poised to make inroads into domestic telecom market By Nam In-soo Staff reporter Vodafone, a U.K.-based mobile phone operator, is poised to make inroads into the Korean telecommunications market in the wake of its acquisition of Airtouch Communications, a U.S. mobile phone giant, industry sources said yesterday. The British wireless giant recently took over Airtouch for $56 billion, creating the world's largest mobile telephone group. Vodafone will also take over Airtouch's 10.6-percent stake in Shinsegi Telecomm, a Korean mobile carrier, replacing Airtouch as Shinsegi's third largest shareholder. Industry sources said Vodafone's equity participation in Shinsegi Telecomm will pave the way for its entry into the Korean telecom market. Sources said Vodafone will particularly try to take advantage of code division multiple access (CDMA) mobile phone technology, which Korea commercialized for the first time in the world. To expand its strength in Korea and other Asian countries, which are set to adopt CDMA technology, Vodafone has sought to forge strategic ties with SK Telecom, Korea's largest mobile phone operator. Revealing its zeal for the tie-up, the British firm sought cooperation late last year from former Information Minister Bae Soon-hoon in its efforts to take over 18.35 percent of SK Telecom, which Korea Telecom will sell in the near future. Aside from its negotiations with SK Telecom, Vodafone may also try to increase its stake in Shinsegi Telecomm, according to industry sources. Reports said Pohang Iron and Steel Co. (POSCO) and the Kolon Group, the two largest shareholders with shares of 20.55 percent and 19.18 percent, respectively, plan to sell off part of their stakes to focus on other businesses. But Shinsegi Telecomm said any change in its share ownership is unlikely any time soon. "It will take at least six months for Vodafone to complete its acquisition of Airtouch. So, it will not have time to think about other things," said a Shinsegi Telecomm official. But he did not rule out the possibility that Vodafone might increase its presence in Korea through either purchasing additional Shinsegi Telecomm shares or a strategic tie with SK Telecom. Shinsegi, a cellular mobile service provider, posted sales revenue of 775 billion won for 1998, yielding a net profit of 4.2 billion won.