[99-8-17] Tricom Holdings To Change Name Wednesday
By Martyn Williams, Newsbytes.
HONG KONG, CHINA,
17 Aug 1999, 2:31 AM CST
Tricom Holdings To Change Name Wednesday 08/17/99 HONG KONG, CHINA, 1999 AUG 17 (NB) -- By Martyn Williams, Newsbytes. Tricom Holdings Ltd. [HKSE:1186] said today its previously announced name change, to Pacific Century CyberWorks Ltd. (PCC), will take place on Wednesday, August 18.
The name change is part of a plan to change Tricom into the technology flagship of Richard Li's Pacific Century Group. (PCG). Li is the youngest son of billionaire Hong Kong tycoon Li Ka-shing. As part of this goal, it recently announced a partnership with Intel Corp. [NASDAQ:INTC] under which the two companies will work together to speed the roll-out and adoption of broadband Internet services in Asia.
The deal called on Intel to invest $50 million in PCC for a 13 percent share in the company. In addition, PCC will acquire existing Intel/PCG joint venture Pacific Convergence Corp. The final part of the deal covers the supply by Intel of Internet set-top box and server-based systems based on Intel chips that will be used to deploy and access such broadband services from PCC.
Reported By Newsbytes.com, newsbytes.com
02:31 CST
(19990817/WIRES ASIA, BUSINESS, ONLINE/)
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