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Vodafone AirTouch's potential bid for Mannesmann has sent shockwaves through the telecommunications sector, causing the company's shares to plummet 16 percent on Tuesday. The British concern's announcement comes just months after a $74.4 billion acquisition of AirTouch Communications. Meanwhile, ESoft's shares
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A massive marketing campaign from Burger King, the nation's No. 2 burger chain, is set to create a frenzy among parents and children alike, as the company spends $22 million to promote toys tied to the Warner Bros. animated film "Pokémon: The First Movie." Meanwhile, McDonald&
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Kevin Mayer has been named executive vice president and general manager of the go.com portal, effective November 17, 1999, following Disney's acquisition of Infoseek Corp. Mayer will oversee the day-to-day management of the go.com Web portal business and develop strategies to grow the business globally. He
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The third quarter of 1999 saw many Korean banks reporting significant losses, largely due to their exposure to the liquidity crisis of the Daewoo Group. The Financial Supervisory Service reported that these banks, having received public funds to mitigate their losses earlier in the year, ultimately ended the quarter with
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South Korean Hanvit Bank, the main creditor of the embattled Daewoo Group, is facing potential losses of up to 1.72 trillion won, or approximately $1.4 billion, due to debt workouts for Daewoo affiliates. This comes as the group's cash-strapped situation worsens, with loans extended to Daewoo
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South Korea's Financial Supervisory Commission, led by Lee Hun-jai, has reassured the market that most financial institutions would be able to absorb up to half of Daewoo's $50 billion debt without experiencing significant difficulties. However, the commission acknowledged that a few weak financial institutions, including two
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Hyundai, South Korea's largest conglomerate, is embarking on a two-week international roadshow to alleviate concerns from overseas investors about its financial stability. The move follows the near collapse of Daewoo, another leading Korean conglomerate. Investors have expressed worries about Hyundai's massive debt of Won61,000bn ($50.
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Mannesmann's surprise announcement of a cash and shares deal to acquire Orange, the UK's third largest mobile operator, has left investors stunned. Despite a valuation of £29bn, concerns over the price and increased debt has led to a drop in shares from £144.80 to £131.
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Hutchison Whampoa, a Hong Kong-based conglomerate, has completed the sale of its controlling shares in the European telecom operations of Orange plc to German engineering company Mannesmann. The massive HK$113 billion deal marks a significant move for Hutchison Whampoa, which will retain the rights to market the Orange brand
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The Walt Disney Co.'s cost-cutting measures and personnel changes have led to speculation that the weekly "Wonderful World of Disney" might be axed from ABC's Sunday night lineup. Despite an ABC spokesman's denial of any plans to cancel the program, the prospect
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As the turn of the millennium approaches, Disney.com is rolling out the red carpet with its newly launched millennium supersite, situated at www.disney.go.com/millennium. This comprehensive online destination will serve as a hub for the company's various millennium initiatives, including Millennium Dreamers, Living Legacy,
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Children at Ferryhill Primary School in Aberdeen, Scotland, are embracing the concept of healthy eating as part of their participation in a contest to win a trip to Walt Disney World Resort in Florida. The school's 325 pupils have collected a large quantity of tokens and are now
