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Technology Stocks : Newbridge Networks

NN 17.08

+0.4%

Jan 23 9:30 AM EST

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To: zbyslaw owczarczyk who wrote (10076)	3/6/1999 3:31:00 AM
From: pat mudge	Read Replies (2) of 18016

What's NN's status in Hong Kong? <<< Asia-Pacific March 6 1999 HK Telecom in Microsoft link By Louise Lucas in Hong Kong Hongkong Telecom shares surged almost 9 per cent yesterday after the territory's dominant carrier signalled a strategic alliance with Microsoft, the world's largest software group. The companies are to hold a joint news conference next Tuesday, which will be co-hosted by Bill Gates, Microsoft chairman and chief executive. The "strategic co-operation plan" will involve a technology trial related to online services. The deal reflects Hongkong Telecom's efforts to expand into multimedia services to reduce its reliance on international direct dial telephone calls. The IDD market was thrown open in January and has seen aggressive price-cutting. Hongkong Telecom anticipated this several years ago, developing a multimedia services unit. Last year it launched the world's first fully interactive TV service, including home banking and video-on-demand, although Hong Kong's recession means demand has been less buoyant than hoped. More recently, it has taken other steps into the interactive world, buying internet service providers and pledging to invest in building Hong Kong's broadband infrastructure - which gels with the government's ambitions to create a regional high-tech centre. Hongkong Telecom shares closed up HK$1.15 at HK$14. >>>>

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