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  • Motorola Said to be Mulling Acquisition of Appeal Telecom
  • September 25, 1998 (SEOUL) -- Motorola Inc. is in talks to acquire Appeal Telecom, a Korean mobile phone venture, industry sources said Sept. 23.
    Appeal Telecom Co., Ltd., which was formally called MI TEL Co., changed its name after the development of the world's lightest CDMA mobile phone, weighing just 79 grams, early this year.

    According to industry watchers, Motorola projects that Appeal Telecom will help it gain a stronghold in Asia's CDMA handset market.

    However, Appeal Telecom denied that takeover talks are in progress, and said that it is only considering an OEM contract with Motorola.

    Motorola acquired an approximate 20 percent stake in a listed Korean handset developer, Pantech Co., Ltd. in May, and arranged an OEM contract with Telson Electronics Co.

    Appeal Telecom, which was listed on the KOSDAQ market a year ago, posted 54.1 billion won (US$38.6 million) in revenue and 9 billion won (US$6.4 million) in net profits last year.

    (Maeil Business Newspaper, Korea)

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    Updated: Thu Sep 24 18:07:14 1998 PDT