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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (911)	4/2/2001 3:47:23 AM
From: ms.smartest.person	Read Replies (1) of 2248

UK's C&W Confirms 14.7% PCCW Stake Sale Updated: Monday, April 2, 2001 02:43 AM ET HONG KONG (Dow Jones)--Cable & Wireless PLC. (CWP, news, msgs) said Monday it's seeking to sell its entire 14.7% stake in Hong Kong's telecommunications and Internet company Pacific Century CyberWorks Ltd. (PCW, news, msgs) via two-year zero-coupon exchangeable bonds. The bonds, issued at par, carry a strike price of HK$3.60. C&W expects net proceeds from the bond to total US$1.5 billion. If not exchanged, the bond will be redeemable at par on the maturity date of June 9, 2003. UBS Warburg is the sole bookrunner for the issue. The bond is rated A2 by Moody's Investors Service Inc. and A by Standard & Poor's Corp. - - 02/04/01 06-43G (Corrected 3:05 am) quicken.com So, is anyone buying?

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