Pacific Internet Next HOT IPO? Message Board

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Technology Stocks : Pacific Internet Next HOT IPO?

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To: Herc who wrote (874)	9/30/1999 9:13:00 AM
From: Herc	Read Replies (1) of 912

Suddenly everyone is down on the Princess! <<SINGAPORE (Dow Jones)--Singapore Telecommunications Ltd. (P.SGT) will bid for a 42.4% stake in Internet rival Pacific Internet Ltd. (P.PCX) if there's an open tender, local newspapers reported Thursday. Conglomerate SembCorp Industries Ltd. (P.SWG), which holds the 42.4% stake in Pacific Internet, has said it's looking to divest its holding. "Let's just say it is an interesting proposition. If they approach us, maybe we will. We will bid if it is an open tender," said Paul Chong, SingTel's chief executive for multimedia. SingNet, SingTel's Internet unit, has more than 50% of the market share in Singapore, with about 250,000 dial-up subscribers, Chong Said.>>

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