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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF)
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To: ms.smartest.person who wrote (3999)12/5/2000 1:29:39 AM
From: ms.smartest.person  Read Replies (1) of 4541
 
18:02 04-DEC-2000 Telstra: no change to own interest in IP backbone JV

Ziggy Switkowsski, chief executive officer of Australia's Telstra, said that the mobile phone and IP backbone joint ventures with Pacific Century CyberWorks (PCCW) (0008-HK) are so attractive that many consortia have expressed their interest from time to time in buying a stake.

However, Telstra has no plans to dispose of any holdings and he said the current level of stakeholding is in line with the company's investment strategy.

Telstra currently owns a 60 pct stake in the mobile phone joint venture while PCCW owns the rest. IP backbone joint venture, however, is an equally-split venture between Telstra and PCCW.

Mr Switkowski said that a controlling stake in the mobile unit will be kept even after possible future sales.
(End)

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