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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (909)	4/2/2001 3:41:40 AM
From: ms.smartest.person	Read Replies (1) of 2248

C&W PLC May Sell PCCW Via CV Bond Or Derivatives - Report Updated: Sunday, April 1, 2001 08:49 PM ET HONG KONG (Dow Jones)--Cable & Wireless PLC (CWP, news, msgs) may seek to dispose of its 7.5% stake in Hong Kong-listed Pacific Century CyberWorks Ltd. (H.PCW, news, msgs) through issuing convertible bonds or other derivatives instruments, Ming Pao Daily reported Monday, quoting unnamed sources. Cable & Wireless is the second largest shareholder of Pacific Century. The article said Cable & Wireless, which has HK$5.1 billion worth of PCCW's shares, isn't allowed to make a share placement, but that it may apply to Hong Kong Exchanges & Clearing Ltd. (H.HEC, news, msgs) and U.K. regulators for the right to dispose of the shares in this way. -By Wendy Lim, Dow Jones Newswires; 852-2802-7002; wendy.lim@dowjones.com quicken.com

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