Also. . .
* Mitsubishi Chemical Corp., Japan’s largest chemical producer, said it will buy a one-third stake in three joint ventures that produce polyester film from Germany’s Hoechst. The deal will give Mitsubishi a 17% share of world polyester film output, second only to DuPont Co.
* A South Korean court said it has placed insolvent Kia Motors Corp. in receivership. In a separate development, American Consulting Group Chairman Bruce Pelkey visited South Korea to discuss investing as much as $600 million in the auto maker.
* Teledesic received a $200-million cash investment from Saudi Arabian Prince Alwaleed bin Talal bin Abdul Aziz al Sau. Teledesic, backed by Microsoft Chairman Bill Gates and cellular pioneer Craig McCaw, plans to launch 288 satellites to provide high-speed Internet access, video, voice and digital data services worldwide.