[00-2-27] Cable & Wireless HKT Delves Into The Net Travel Business
By Adam Creed, Newsbytes.
HONG KONG, CHINA,
27 Feb 2000, 7:49 PM CST
Cable & Wireless HKT Delves Into The Net Travel Business 02/27/00 HONG KONG, CHINA, 2000 FEB 27 (NB) -- By Adam Creed, Newsbytes. Cable & Wireless HKT, the Hong Kong telecom provider that has been approached for merger talks by Asian Internet content company Pacific Century CyberWorks, has itself bolstered its Internet content interests through a stake in a travel portal operation.
The telephone, Internet and broadband network operator has agreed to acquire a 10 percent share in China Travel Hi-Tech Computer Ltd from its parent company China Travel Service (Holdings) H.K. Ltd.
China Travel Hi-Tech gives Cable & Wireless HKT a slice of the online travel market - the company is developing an e-commerce site that provides China travel resources, online ticketing and hotel bookings. It already has a partnership with Internet investment group SoftBank.
"We see great potential in e-commerce development in the PRC (People's Republic of China) travel industry," said Linus WL Cheung, chief executive of Cable & Wireless HKT. "This investment marks our first major step to expand into the mainland market."
Reported By Newsbytes.com, newsbytes.com
19:49 CST
(20000227/WIRES ASIA, TELECOM, ONLINE/)
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