US$1.2 BILLION: Mycal Corporation (Japan)                                                                                back

Wal-Mart is interested in acquiring about 30 outlets of the bankrupt  supermarket chain operator in the Tokyo  metropolitan and neighboring areas instead of the proposed 100 outlets take over.

Mycal is a supermarket chain operator that owns more than 230 stores in formats that include its mainstay Saty 
Supremarkets (food, basic apparel, household items), Vivre fashion shops (apparel, accessories), and Mycal Town 
(complexes combining the Saty and Vivre concepts with other stores). It also operates Pororoca supermarkets, movie 
theaters, sports facilities, restaurants and shopping centers.

Aeon Co has proposed to take over 50  Mycal outlets, while Maruetsu Inc proposed to acquire Mycal’s Osaka-based subsidiary, Pororoca, for 2 billion yen. Ito-Yokado, Japan’s largest supermarket chain operator, is also expected to take over about 12 Mycal outlets in the Kansai area.

US$1.2 BILLION: Daewoo Motor (Korea)                                                                                        back

General Motors Corp appointed D Nick Reilly, former GM Europe’s VP in charge of Sales and Marketing, to lead a team  to supervise the transition in the takeover of the bankrupt Korean car-maker, who will assume his new position in January 1, 2002.       

The Korean government and Daewoo’s creditors are moving ahead with plans to sign a final contract for the sale to GM by the end of this year.

US$853.370 MILLION: Hyundai Group (Korea)                                                                             back

The American International Group (AIG)-led consortium has sent a revised version of its requests since both parties are deadlock over the new requests AIG had demanded from Hyundai last month.

AIG is one of the world's largest   Insurance firms and is best known as   a leading provider of property/casualty and specialty insurance. AIG also has strong life insurance operations abroad and is a growing presence in financial services and asset management. Other operations include assets insurance, mortgage guaranty, annuities and aircraft leasing.

US$600 MILLION: PT Telkomsel (Indonesia)                                                                                 back

22.3% stake held by KPN Mobile International BV (KPN)

SingTel wholly-owned subsidiary, Singapore Telecom Mobile Pte Ltd (SingTel Mobile), signed a definitive agreement with KPN for the 22.3% stake in Telkomsel, for a cash consideration of US$602 million, which was arrived at on a willing-buyer willing-seller basis.

Sin Yang Fong – Investor Relations Deputy Director

Tel: Tel: +65 838 2373
Fax +65 738 3769
Email: investor@singtel.com 

US$520 MILLION: PT Semen Gresik (Indonesia)                                                                           back

The workers’ association of Semen threatened to takeover the company  should the government decide to exercise its put option to sell majority of the company to Cemex.

The World Bank (WB) urged Indonesia to immediately defy provincial government attempts to takeover affiliates of Semen, saying that such moves were endangering the future of the proposed investment.

Coordinating Minister for Economy Dorodjatun Kuntjorojakti said the government is determined to solve the put option and spin of dispute in the cement maker this year.  

US$513 MILLION: SK Telecom Co, Ltd (Korea)                                                                            back

Korea’s largest cellular phone service provider bought back 3% of its stakes from Korea Telecom Corp for a total consideration of 666 billion won.

SK Telecom is the #1 wireless telecommunication services provider in   South Korea. The company, formerly known  as Korea Mobile Telecom, serves more than 11 million cellular users (41%  market share) and about 375,000 paging customers (65% market share) throughout  the country. It agreed to limit its market share to less than 50% after acquiring a 51% stake in rival Shinsegi Telecom. The company offers Internet services through its Netsgo subsidiary. It also manages the SK Knights basketball and SK Wyverns baseball clubs. SK Telecom has operations in China, Southeast Asia, and Southwest  Asia. SK Telecom is a member of the SK Group chaebol (conglomerate), which is the company's largest shareholder.

99 Seorin-dong, Jongro-gu Seoul 110-110, South Korea 

Son Kil-Seung – Chairman & CEO
Pyo Moon-Soo – President
Shin Joong Mock – SVP Finance  Management; CEO SK Capital

Head Office Phone: +82-2-2121-4717
Head Office Fax: +82-2-2121-3964 

As South Korea's #1 phone company, the state-controlled Korea Telecom (KT)  provides fixed-line (21.5 million lines in service), wireless, and satellite telecommunications services. KT also offers broadband Internet access, called Megapass, which boasts 3.1 million subscribers. Other services include business and data communications and Internet data center operations. As part of its restructuring effort, the company is focusing on data and Internet services and mobile communications. It is consolidating operations and reducing its workforce. The national government has cut its stake in Korea Telecom to 40% and has announced plans to fully privatize the company by 2002 as it seeks a foreign partner. 

206 Jungja-dong, Pudang-gu Songnam, Kyonggi 463-711, South Korea

Lee Sung Chul – President, CEO & Director
Nam Joong Soo – EVP, CFO & Director 

Head Office Phone: +82-31-727-1320
Head Office Fax: +82-31-727-0939 

SK Telecom plans to buy back 1.3 trillion  won worth of shares over three years.