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 (4482)	1/15/2001 10:17:39 PM
From: ms.smartest.person	Read Replies (1) of 4541

PCCW Hits 52-Week Low of HK$4 on Share Dumping Worry Jan 16, 2001 - 10:34:25 HKT Quamnet News Service Pacific Century CyberWorks (0008), a major Asian communications company, fell, as much as 4.8 percent, for a fourth day to a new 52-week low of HK$4, on continued concerns that Britain's C&W may dump PCCW shares again after its lock-up period expires in mid-February. At 10:22 a.m. Hong Kong time, PCCW shares were down 0.6 percent to HK$4.175 on turnover of HK$67.26 million. The stock has plunged 18 percent since last Tuesday when it closed at HK$4.925. The British phone company, which holds about 15 percent of PCCW, can start selling a 4 percent stake after Feb. 17, 2001, and the rest of the stake after Aug. 17. It already sold a 4.9 percent stake in PCCW through a placement in September last year. Separately, PCCW reportedly will cut the basic monthly fee of its restructured iTV service to less than HK$200 from currently HK$238. The company also said in a statement that it isn't aware of any reasons for the recent decrease in its price and increase in its trading volume. It said there are no negotiations or agreements relating to intended acquisitions or realizations which are discloseable quamnet.com

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