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VirtualFund, based in Eden Prairie, Minn., said it planned to use the proceeds to develop Internet businesses.
Senate Republicans also blocked a measure that would pare some of the tax breaks for oil companies and use the proceeds to develop alternative fuels.
MURPHY OIL CORP., El Dorado, Ark., said it planned to sell oil and natural-gas reserves in western Canada next year and use the proceeds to develop projects in Malaysia.
The other would have rolled back about $12 billion in wholly unnecessary tax breaks for the oil industry and used the proceeds to develop cleaner fuels and new energy technologies.
Senator Max Baucus, a Montana Democrat, is drafting a bill that seeks to repeal $4 billion in annual taxpayer subsidies to the oil industry and use the proceeds to develop more efficient cars and alternative fuel sources.
Ericsson A.B., the largest supplier of wireless-network equipment, indicated it had made almost $1.62 billion by selling half its stake in Juniper Networks Inc. Ericsson will use the proceeds to develop gear that lets mobile phone users download video and surf the Internet.
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And then we will proceed to develop it in this manner".
But they were also "prepared for all contingencies and are proceeding to develop alternatives," he said.
Mr. Whelan said plans were proceeding to develop a series of state-owned parking lots into buildings with 400 residences.
The two proceeded to develop routines in this vein, which they recorded and attempted to sell to radio stations.
The E.U. could proceed to develop such legislation and to seek its passage in tandem with signing the Association Agreement.
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