PCW - Pacific Century CyberWorks Limited Message Board

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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (240)	2/5/2001 10:44:30 PM
From: ms.smartest.person	Read Replies (1) of 2248

AIG May Buy PCCW Shares Only at HK$3 or Less - Ming Pao Feb 06, 2001 - 10:26:24 HKT Quamnet News Service AIG, the world's largest insurance provider, has no plan to purchase shares of Pacific Century Cyberworks Ltd. (0008) at any share price higher than HK$3, reported Ming Pao Daily, citing an unnamed source. The shares would become attractive at HK$3 or less, said the sources. AIG believes that the prospects of telecoms are positive and that there is limited room for further decline of Cyberworks shares at that level, said the source, cited by the newspaper. AIG has bought US$250 million worth of Cyberworks convertible bonds, at an exercise price of HK$7 each. The source said the investment won't contribute interest losses to the group if the share price goes up back to the strike price within six years. Therefore, it is not necessary for AIG to accumulate additional Cyberworks shares at lower prices, said the sources. At 10:23 a.m. local time, Cyberworks shares were trading at HK$4.725, down 1.1 percent. quamnet.com

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