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 (298)	2/7/2001 11:44:14 PM
From: ms.smartest.person	Read Replies (1) of 2248

Telstra/PCCW reach out across Asia By Michael Sainsbury, iTnews Thursday, 8 February 2001 The long-awaited tripartite deal linking Telstra with Hong Kong-based Pacific Century CyberWorks opened for business Wednesday. The multi-billion dollar alliance is Telstra's big play to become a regional force and with it, an ability to continue to grow outside the restrictions of the Australian domestic market. The three companies are: Internet backbone company Reach Ltd to be headed up by former Hong Kong Telecom deputy CEO Alastair Grieve and chaired by Telstra networks boss Gerry Moriarty; A regional wireless company, whose chief asset to date is HKT CSL, and will be lead by PCCW mobility boss Hubert Ng and chaired by Telstra mobile chief Dick Simpson; The Internet Data Centre company to be chaired by PCCW second in command Alex Arena. PCCW has issued Telstra a convertible note for US$750 million with a term of six years. Reach will have annual revenues of US$1.9 billion and an EBITDA of US$500. itnews.com.au

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