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Strategies & Market Trends : 50% Gains Investing
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To: Dale Baker who wrote (25702)6/7/2001 12:02:42 AM
From: Richard TsangRead Replies (1) of 118717
 
PCLN - I will hang on to my "free" shares. Hutchison Whampoa from Hong Kong has a very strong management and board. They just made $3.85 billion from the Voicestream deal. The investment in PCLN is peanuts to them, but their connection into the China market has great potential.

biz.yahoo.com

Thursday May 31, 9:43 pm Eastern Time
Hutchison receives US$5.1 bln in VoiceStream sale HONG KONG, June 1 (Reuters) - Ports-to-telecoms conglomerate Hutchison Whampoa Ltd said it received US$5.1 billion in cash and stock from the sale of U.S. mobile phone carrier VoiceStream Wireless Corp (NasdaqNM:VSTR - news) to Deutsche Telekom AG , which closed on Thursday.

Hutchison held an 18.4 percent interest in VoiceStream, and will receive cash of $885 million and about 206.6 million shares in the German telecoms giant, which ended up paying $24.9 billion for VoiceStream in a move that gives it a major U.S. presence.

Hutchison said it would book a profit from the transaction of about HK$30 billion (US$3.85 billion), marking a roughly four-fold increase from its investments in VoiceStream, which were made in 1998 and 1999.

Shares in Hutchison, controlled by Hong Kong's richest tycoon Li Ka-shing, closed on Thursday at HK$84.00.

(US$ equals HK$7.8)
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