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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (265)	2/7/2001 2:10:44 PM
From: ms.smartest.person	Read Replies (1) of 2248

Wednesday, February 7 2:27 PM SGT Australia's Telstra Shares Drop on HK's PCCW 3 PCT Slump SYDNEY, Feb 7 Asia Pulse - As a result of a three per cent sharemarket slump for its Asian partner Pacific Century Cyberworks Ltd [PCCW] yesterday, Telstra Corp Ltd (ASX:TLS) shares were weaker today. Investor attention has returned to its $A4 billion ($US2.19 billion) joint venture companies with PCCW which are expected to be launched tomorrow. PCCW shares fell more than three per cent in Hong Kong yesterday after analysts raised concerns that profits from HK Telecom could fall. "This will accentuate market concerns over Telstra's Asian strategy, and will reinforce the need for Telstra to reveal details to the market over the next several weeks," UBS Warburg said in a report today. UBS said an initial public offer of the Telstra-PCCW IP backbone company was unlikely to go ahead this year. ASIA PULSE asia.biz.yahoo.com

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