PCW - Pacific Century CyberWorks Limited Message Board

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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: pennywise who started this subject	7/27/2001 11:15:31 PM
From: ms.smartest.person	of 2248

PCCW woes no problem: Ziggy Sydney Morning Herald - ABIX - Australasia; Jul 27, 2001 BY ANNE DAVIES Australian telco, Telstra, says its Asian strategy has not been affected by the financial woes of its Asian business partner. On 26 July 2001, Telstra's chief executive, Ziggy Switkowski, said the financial problems facing its Hong Kong-based partner, Pacific Century CyberWorks (PCCW), were not relevant to the future of the pair's joint ventures. These ventures include Telstra's 50%-owned cable network, Reach, and 60%-owned Hong Kong mobile telephone business. However, Telstra has already written down the value of both joint ventures, thanks to the global decline in sentiment towards the telecommunications sector. Telstra shares fell $A0.09 to a new three-year low of $A4.90 on 26 July. World Reporter All Material Subject to Copyright

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