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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1435)	6/19/2001 9:25:12 AM
From: ms.smartest.person	Read Replies (1) of 2248

Pacific Century picks 49% in I-can New Delhi, June 17: PACIFIC Century Cyberworks (PCC) has picked up 49 per cent stake in Delhi-based media company I-can, a company official said here. SP Associates promoter Siddharth Ray said, “PCC has taken 49 per cent stake in I-can through Corporate Access. The shareholding pattern of the company now has SP Associates holding 51 per cent stake and PCC at 49 per cent.” Mr Ray said that I-can is also in talks with its various technology partners for roping in more equity partners in the media venture, which proposes to implement an ambitious Digital Video Broadcast (DVB-Terrestrial) project in the country and for which negotiations with Doordarshan (DD) are on. “We are in talks with two to three of our technology partners who have shown a keen interest in picking up stake in the company. In the event of a new partner coming into the venture, both the existing stakeholders would dilute their stake in proportion,” he added. He also said that the new partner would be roped in only after procurement of a license for the proposed project, which is yet to get government’s nod. However, he declined to divulge the names of companies that I-Can was negotiating with. The DVB-T project, currently being discussed with Doordarshan on “build-operate-transfer” model, would allow greater and direct connectivity to the viewer, providing better transmission quality to viewers. The project would also involve installation of ‘set top’ boxes at the subscribers’ premises for encoding and decoding purposes and this technology would permit broadcasting and Internet on the standard TV sets. -- PTI financialexpress.com

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