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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (630)	3/22/2001 9:28:04 PM
From: ms.smartest.person	Read Replies (1) of 2248

Richard Li Says Father Not Involved in C&W Disposal Mar 22, 2001 - 11:16:18 HKT Quamnet News Service Richard Li, chairman of Pacific Century CyberWorks (0008), said he hasn't involved his father Li Ka-shing in efforts to help Brtiain's Cable & Wireless unload its PCCW stake, the Sing Tao Daily News reported. Li the elder is chairman of Cheung Kong (Holdings) Ltd. (0001) and Hutchison Whampoa Ltd. (0013). The younger Li said PCCW is awaiting the British firm's response to its proposal for reducing C&W's 15 percent stake. The proposal satisfies all parties in that it would not lead to C&W selling its shares to the public, he said. Still, C&W may feel the consideration for its PCCW stake is too low, Li said, adding that the U.K. phone company has assured him it will consult with PCCW before disposing of its holdings. Separately, the younger Li declined comment on allegations that he falsely claimed to have graduated from Stanford University in computer engineering. At 11:13 a.m. Hong Kong time, PCCW was trading at HK$3.675 after touching a 52-week low of HK$3.65 in early trading. quamnet.com

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