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

To: brian h who wrote (29634)	5/10/1999 11:54:00 AM
From: GO*QCOM	Respond to of 152472

NEWS: QUALCOMM CLEARS HURDLE -------------------------------------------------------------------------------- Home \| Full Coverage \| Top Stories \| Business \| Tech \| Politics \| World \| Local \| Entertainment \| Sports \| Science \| Health Yahoo! News Business Headlines Monday May 10 11:41 AM ET Ericsson-Qualcomm Deal Clears Hurdle SAN DIEGO (Reuters) - Wireless phone equipment maker Qualcomm Inc. (Nasdaq:QCOM - news) Monday said it won antitrust clearance from U.S. regulators on the proposed sale of its cellular antenna unit to Sweden's Telefon AB L.M. Ericsson . In the wake of the U.S. Department of Justice go-ahead, Qualcomm said in a statement it expects the transaction with Ericsson to close on or about May 24. In addition, Qualcomm said a lawsuit seeking class-action status had been filed May 6 against the company by a single employee, purportedly on behalf of those employees who will join Ericsson as part of the acquisition. Qualcomm has agreed to sell its terrestrial Code Division Multiple Access (CDMA) wireless infrastructure business as part of a complex settlement of a long-running patent infringement feud between the two companies -- both leading makers of wireless digital communications equipment. The company said that 94 percent or more of the 1,053 transitioning employees who have unvested stock options, including all of the senior management of the division, have chosen not to join the lawsuit. Employees in the unit being sold will participate in a Retention Bonus Plan offered by Qualcomm and Ericsson, which provides several benefits including cash compensation based upon a portion of the value of their unvested options. -------------------------------------------------------------------------------- Search News Stories Search News Photos May 09 \| May 08 \| May 07 \| May 06 \| May 05 \| May 04 \| May 03 \| May 02 \| May 01 \| Apr 30 Home \| Full Coverage \| Top Stories \| Business \| Tech \| Politics \| World \| Local \| Entertainment \| Sports \| Science \| Health -------------------------------------------------------------------------------- Questions or Comments Copyright © 1999 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.