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Technology Stocks : PCW - Pacific Century CyberWorks Limited
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To: pennywise who started this subject2/19/2001 7:53:42 PM
From: ms.smartest.person   of 2248
 
C&W may swap PCCW stake for Telstra joint venture

Monday, February 19, 2001, 11:10
By BARRY PARK, FAIRFAX IT

Cable & Wireless Plc may exchange half of its stake in Internet and telecom firm Pacific Century CyberWorks for PCCW's half-share in an Internet protocol backbone venture with Telstra.

A report in the South China Morning Post on Saturday quoted an analyst as saying a link with Telstra via the Reach Internet protocol joint venture would ``. . . improve Cable and Wireless' reach in the smaller countries of the Asia-Pacific region and it gives them a way of exiting CyberWorks without demanding more liquidity from investors."

"But a Telstra joint venture is not at the top of their list of options," the analyst was quoted as saying.

Another analyst questioned the suggestion that Cable & Wireless would consider the Reach venture.

"Could it really accept shares in a business also run by Telstra, which is the main competitor to Optus? That would seem odd," the SCMP quoted the analyst as saying.

C&W has agreed with PCCW not to sell half of its 14.5 per cent PCCW stake before February 21, and the remaining half before August 24.

The company's Australian subsidiary, Cable & Wireless Optus, is currently considering offers for its mobile unit.

it.fairfax.com.au
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