Pacific Century CyberWorks (PCW, PCWKF) Message Board

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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF)

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To: Paulh who wrote (275)	2/8/2000 12:26:00 PM
From: michael m.	Read Replies (2) of 4541

To clarify CMGI will hold a minority stake in PCCW but to quote a research report "CMGI Asia is a new 50:50 JV between PCCW and CMGI. In turn, this company will hold 60% of the Asian versions of CMGI's Operating companies. (Say, AltaVista Asia) The first four CMGI companies that CMGI Asia will focus on bringing to Asia are AltaVista, ICAST, Engage Technologies, and 1 ClickCharge. Behind the rather complex structure of CMGI Asia is the fact that PCCW would have only a 30% stake in the Asian versions of CMGI's operating companies, with CMGI holding between 50-70%" So the way I interpreted this report is that CMGI will own the majority stakes in the web properties brought to Asia and in turn will give PCCW the creditability of an already established firm. You should try and aquire a copy of this report and make your own judgement on the structure as I can only give you inserts as I'm not going to retype the whole thing. I got it from a friend at Merrill, it is entitled CMGI Asia is born. Also from the report "CMGI owns 3.4% of PCCW's shares, acquired in a US $350mn share swap last september" Sorry I wasn't more clear in my first posting. Just my thoughts. Michael

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