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Pastimes : Crazy Fools Chasing Stocks w/5-letter Symbols Ending in F
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To: ms.smartest.person who started this subject8/9/2000 10:15:29 PM
From: ms.smartest.person   of 307
 
[JLELF] JALECO LTD FOREIGN

PCCW (1186-HK) to acquire Jaleco for $1.955 billion

Wire reports say that Pacific Century CyberWorks (PCCW) is buying control of Japanese entertainment software maker Jaleco Ltd in a US$250 million (HK$1.955 billion) all-cash deal as a way to enter the Japanese broadband communications market.

PCCW said three Japanese advertising agency Dentsu, financial services firm Orix and entertainment ticketing and lifestyle publisher PIA, along with other investors, will invest 2 billion yen (HK$142 million) in the Jaleco deal, which will give PCCW and its partners an 81 pct interest in the firm.

A spokesman for PCCW said that the venture, which will be renamed Pacific Century CyberWorks Japan and remain listed on Tokyo's OTC market, will be the vehicle through which PCCW will be expanding its broadband network in Japan.

(End)

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