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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (921)	4/2/2001 4:37:25 AM
From: ms.smartest.person	Read Replies (1) of 2248

MARKET TALK/HK: A C&W Exchangeable May Attract Investors 13:50, 2001-04-02 [Contact Us: Hong Kong 852-2802-7002] 0421 GMT [Dow Jones] While analysts generally not positive about PCCW shares, European bank convertible bond originator believes, given 15.3% stake holder C&W's good credit (3-year asset swap around Libor plus 80bps vs Hutchison Whampoa at Libor plus 100 bps), any exchangeable bond to sell down PCCW stake may be well-received by investors. Some think share conversion price for such bond may be much lower than PCCW's current convertible bond, making it more attractive to those who may want to bet on a PCCW share rebound but don't like risk of buying stock outright or taking on credit risk of PCCW's own convertibles. (IVW) Copyright c 1999-2000 Dow Jones Inc. All rights reserved. quamnet.com

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