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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (345)	2/19/2001 12:25:27 AM
From: ms.smartest.person	Read Replies (1) of 2248

PCCW Down 0.5% as C&W Yet to Find Buyer Feb 19, 2001 - 10:31:19 HKT Quamnet News Service Pacific Century CyberWorks (0008), a major Asian communications company which owns Hong Kong's largest phone company, fell as much as 2.7 percent amid speculation that Cable & Wireless Plc may not be able to find a buyer for its 7.5-percent stake in PCCW due to poor sentiment in the global telecoms market. At 10:25 a.m. local time, PCCW shares were down 0.5 percent at HK$4.60. More than HK$23.3 million of shares changed hands. C&W, PCCW's second-largest shareholder, can now sell half of its 15-percent stake in the Hong Kong-listed phone company any time as a lock-up period has already expired on Feb. 17. The market is concerned when C&W will sell its PCCW shares as that may pull down PCCW share prices. Peter Eustace, spokesman for the U.K. phone company in London, said last Friday that "We will make a decision when it is appropriate," but wouldn't elaborate further. quamnet.com

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