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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1974)	10/4/2001 10:52:19 PM
From: ms.smartest.person	Read Replies (1) of 2248

Salomon: closure of AdSociety show PCCW's pft concern 2001/10/04 12:12 (Infocast News) Salomon Smith Barney thinks that PCCW's (0008) closure of advertisement agent AdSociety, which PCCW had 79% stake, and the dismissal of over 100 employees will have little influence on PCCW's financial profile, and that the operation could be retained by contracting to other advertisement agents, such as Double Click and 24/7. However, the brokerage firm said that the incident shows the management of PCCW is concerned about the profitability of its Internet operation and is likely to successfully confine the LBITDA of the Internet operation to its estimation. The firm expects that PCCW will be similarly pragmatic on the development of Cyberport. It maintains its Market Outperformer rating on PCCW. infocastfn.com

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