Hi! John!
I indeed have a very special cyber relation with Di. And if she sez that you're OK, I'll need no other recommendation.
We maybe should start a closed thread for Di's friends.LOL.
re: PCCLF
Bot that one coz. CMGI invested early in PCCLF (but got screwed by a bad fill of my broker, paid 80% too much on the Hong Kong market: they have a lousier order book than Amex).
Quotation is suspended till Aug 22.
In the C&W-HKT / PCCW merger there are some caveats: HKT shareholders (even C&W) have agreed the merger but they are not likely to stay over-confident over the PCCW tendered shares.
Some HKT shares already have been tendered, not for PCCW shares, but for CMGI shares instead. CMGI hereby upping it's participation in PCCW.
Last buzz I've read on HK is that there are some 20% of shares of the new PCCW-HKT entity that are on a balance:
- could be sold on the market
- could be exchanged for other shares (unlikely for CMGI shares due to current slump in the prices, but this uncertainty could be another explanations of CMGi's poor performance)
anyway, these 20% of PCCW-HKT capital is not in to be trusted hands.
Current price of HKD 15.35 discounts some of this risk.
PCCW-HKT should be fair valued at some HKD 24-28. Current price beeing close to the low end of normal price fluctuations.
Strategy of the new entity still is unclear: Richard Li has been appeaing on the media, saying nothing about this, newswires also are very dry. (and uneasy to spot currently as the new ticker is unknown: only ticker with related news beeing 0008.HK, former C&W-HKT finet.com.hk ).
So, unless there comes more clarity on the intention of those 20% shares (which could be held, or sold, or tendered for CMGI shares - CMGI having to move drastically in price..) this is, IMHO, a very speculative investment.
But, IMHO, a very good one middle to long term in the HongKong-China area, two to five-years (dad Li Kashing's Hutchinson Whampoa and son Richard Li's PCCW-HKT controlling the major utilities and development companies).
Hope this helps,
Louis
aka lvlamb |
