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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1650)	7/18/2001 3:16:43 PM
From: ms.smartest.person	Read Replies (1) of 2248

PCCW, SmarTone Mull Participation in 3G License Auction Jul 18, 2001 - 17:34:41 HKT Quamnet News Service CSL, a unit of Pacific Century CyberWorks (0008), and SmarTone Telecommunications Holdings Ltd. (0315) said they have yet to decide whether to bid for local third-generation (3G) mobile phone licenses at auction this September. The Office of the Telecommunications Authority met with analysts and market participants this afternoon to explain its information memorandum about the 3G license issue. New World Mobility, a unit of New World Development Co. (0017), and unlisted Peoples Phone said they will take part in the 3G license auction. It is understood that Hutchison Telecom of Hutchison Whampoa Ltd. (0013) and Sunday Communications Ltd. (0866) would be interested in joining the auction as well. The Hong Kong government said today it set a reserve price for the first-phase auction of 3G licenses at 5 percent of network turnover, subject to an annual minimum payment of HK$50 million for each of the first five years. Annual payments will rise from year six onwards during the 15-year license period. Copyright 2000 Quam(IA) Limited, All rights reserved quamnet.com

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