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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1369)	6/8/2001 12:15:52 PM
From: ms.smartest.person	Read Replies (1) of 2248

M1 bids fail to impress: report Friday, 08 June, 2001 Players hoping to buy up Singaporean cellco MobileOne are going to have to come up with more impressive bids to woo M1 shareholders, who say they won't sell if the price isn't right. M1's shareholders – Singapore Press Holdings, Keppel Telecommunications & Transportation, and GET, a JV between Cable & Wireless and Pacific Century CyberWorks-HKT – have set an unofficial minimum bid of $1.2 billion for the GSM operator. However, the two players who have made bids so far – Malaysian telecoms company Maxis Telecommunications and Hong Kong's Regional Wireless JV between PCCW and Telstra – have failed to meet M1's floor price, according to a Reuters report in the Straits-Times newspaper. The report, citing a source close to the deal, adds that while the Maxis bid was the higher of the two, it also faces potential regulatory challenges. The source told Reuters that M1's shareholders were "under no pressure" to sell if they weren't happy with the price. telecomasia.net

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