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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF)

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To: John McDonald who started this subject	9/9/2000 1:52:05 AM
From: ms.smartest.person	Read Replies (1) of 4541

E-finet.com PCCW Headlines for 9-08-2000 PCCW (0008-HK) ends deals with KG Telecom, CMGI 210.176.154.39 11:02 08-SEP-2000 - Following the cancellation of co-operation between PCCW and KG Telecom, US Internet investment company CMGI said it has ended negotiations for co-operation with PCCW to form a US$1.5 billion (HK$11.7 billion) venture fund, according to the Hong Kong Economic Times. A spokesman for PCCW said that the cancellations will not affect the group as a whole and stressed that revising the business plans and strategies subject to market sentiments and trends show accountability of the management to shareholders. A spokesman for CMGI said that the company will not dispose of its 714 million shares in PCCW. (End) PCCW (0008-HK) granted licence for 'Super-Cable' 210.176.154.39 18:43 08-SEP-2000 - Pacific Century CyberWorks has received a licence to use a "Super-Cable" to transmit data at high speed between Asia and Europe. The underwater hook-up, called SMW3, has a total capacity of 40 gigabits per second. When installed, transmissions will be able to bypass the US for higher speed. Managing director of PCCW's Global Communications sector, Keith Harrison said downloads will speed up by up to 30 pct. PCCW and Telstra have invested US$120 million (HK$936 million) in the project. The two companies will also provide connections to the UK. (End) PCCW (0008-HK) closes down 4.96 pct to $13.20 210.176.154.39 12:10 09-SEP-2000 - PCCW closed down 4.96 pct to $13.20 yesterday, a new low since April following reports that its deals with America's CMGI and Taiwan's KG Telecom had abruptly been ended. Analysts said that PCCW had earlier accumulated quite a number of sell orders and Cable & Wireless Inc is reported to be ready to dispose of a large block of PCCW shares. All these factors have started a rash of sell orders from institutional investors. (End) Pacific Century Ins ends co-operation on Healthcare2U.com 210.176.154.39 12:21 09-SEP-2000 - Health Care International had earlier partnered with Pacific Century Insurance (0065-HK) on a joint venture Healthcare2U.com. However, as the two companies have different business focuses - Pacific Century Insurance more on finance and Health Care Int'l on service quality - the two parties have decided to go their separate ways, according to the Hong Kong Economic Journal. Pacific Century Insurance had decided to terminate the co-operation one month earlier and had not formally acquired any stake in the Website. (End)

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