Business Services Industry
HYNIX CREDITORS STEP BACK ON SELL-OFF PROPOSAL.
AsiaPulse News, February, 2002
SEOUL, Feb 18 Asia Pulse - Creditors of Hynix Semiconductor have indicated they may decide not to sell off the chipmaker's debt-ridden memory chip division, although they will attempt further negotiations with proposed buyer Micron Technology.
Creditors said they will draw up a counter-proposal to Micron's offer, because the draft memorandum of understanding (MOU) contains a number of terms they cannot agree to.
"The demanded terms are not from an official MOU, so we will seek further negotiations through our counter-proposal," said an official.
A full meeting of the creditors may open as early as today (Monday) to comb through the draft MOU and to establish countermeasures, he said.
Hynix, the No. 3 chipmaker in the global market, has...
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