With Deal For Island Off, Is Datek Still Looking For Money?
ATS/ECN UPDATE
NEW YORK--The hard dollars that Softbank Corporation had been waving at Datek Holdings throughout 1999 in an attempt to buy a stake in Island were not enough to get the deal done. An expected purchase that had been brewing during the third and fourth quarter of 1999 unraveled by the end of the year. Datek owns about 85% of Island and while money was an issue, the matter was complicated by the fact that Softbank was expected to involve ETrade and Yahoo, in which it also owns a stake, in Island's
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