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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF)
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To: John McDonald who wrote ()2/15/2000 8:36:00 PM
From: ms.smartest.person  Read Replies (1) of 4541
 
Thread, Have I scared you all away? Here's some more PCCLF/HKT news:

February 15, 2000

Telstra Supports HK's CyberWorks Bid For C&W HKT -Papers

HONG KONG -- Australia's Telstra Corp. (TLS) has expressed support for Hong Kong's Pacific Century CyberWorks's (H.PCW) rival bid for the city's dominant telecommunications company, according to various newspaper reports Wednesday.

An unsourced report in the Hong Kong Economic Times said Telstra has approached Pacific Century CyberWorks to help it take over Cable & Wireless HKT Ltd. (HKT), which began talks of a "merger of equals" with Singapore Telecommunciations Ltd. (P.SGT).

The Chinese-language paper said Telstra will buy 49% of the future merged entity's combined fixed-line and non-consumer Internet and multimedia services, or IMS, businesses.

The combined unit will be renamed Asia Broadband Networks, the paper said.

Telstra will at the same time take a direct stake in Pacific Century CyberWorks to become its strategic shareholder, although no details were given.

Pacific Century CyberWorks officials were reported by the Economic Times to have returned to Hong Kong from Singapore overnight after SingTel refused to back out of the takeover bid for C&W HKT, nor to cooperate with Pacific Century CyberWorks in a joint-bid for C&W HKT.

I CAN'T WAIT FOR THIS TO BE SETTLED SO WE CAN GROW SOME MORE!

Merry
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