Pacific Century CyberWorks (PCW, PCWKF) Message Board

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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF)

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To: ms.smartest.person who wrote (4101)	12/11/2000 12:18:16 AM
From: ms.smartest.person	Read Replies (1) of 4541

PCCW and Telstra to Register JVs in Bermuda Dec 11, 2000 - 09:20:47 HKT Quamnet News Service Telstra Corp., Australia's largest phone company, said it would register its joint ventures with Richard Li's Pacific Century CyberWorks (0008) in Bermuda, Reuters reported. "It has a jurisdiction that facilitates debt and equity raisings because it is tax neutral," a Telstra spokesman was quoted as saying. Telstra and PCCW, which sealed a pan-Asian alliance in October, plan to raise US$1.51 billion through stock exchange listings of a maximum 10 percent of each of their Internet Protocol network, regional wireless and an international data center joint ventures within 12 months, the news agency quoted the newspaper The Australian as saying. The newspaper, citing a shareholders agreement between PCCW and Telstra, said the network group was valued at US$10 billion and was expected to raise US$1 billion. The wireless group, valued at US$3.1 billion, was likely to raise US$310 million. The proceeds from the data centers were forecast at US$200 million and the group was valued at US$2 billion. PCCW shares ended Friday up 8.3 percent at HK$5.85. quamnet.com

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