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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1494)	6/26/2001 10:29:14 PM
From: ms.smartest.person	of 2248

Hutch's Unit Blames PCCW for Network Expansion Delay: Report Jun 27, 2001 - 08:53:10 HKT Quamnet News Service Hutchison Global Crossing Ltd., a 50/50 joint venture between Hutchison Whampoa Ltd. (0013) and Global Crossing Ltd., is more than six months behind schedule in providing the fixed-line network it promised the Hong Kong government in 1999, Bloomberg reported. Although Li Ka-shing's unit invested more than HK$4 billion in fiber-optic cable in the past 30 months, it has been slow to connect to phone exchanges owned by Richard Li's Pacific Century CyberWorks Ltd. (0008), the city's dominant phone company. Hutchison told the government it expected to have its phone network hooked up to 16 CyberWorks exchanges by end of last year and is supposed to connect into 22 by the end of next year. To date, it is connected to only 13. Should Hutchison not connect with 22 exchanges by the end of 2002, it could lose its HK$50 million bond, according to the news agency. "Our network was in place long ago," Charles Yip, general manager of Hutchison Global Crossing, reportedly said. "We can't get into PCCW's switches because there isn't enough space for our equipment." quamnet.com

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