Pacific Internet Next HOT IPO? Message Board

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Technology Stocks : Pacific Internet Next HOT IPO?

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To: Carolyn who wrote (685)	5/20/1999 8:40:00 AM
From: Herc	Read Replies (1) of 912

<<Why would they?>> To get established customers and infrastructure pronto. In the long term, I hope they don't because I think PCNTF will make us more money as a stand alone company. But I'm sure their investment bankers are shopping their new stock placement to some large block acquirers. Now this.... <<SINGAPORE, May 20 (Reuters) - Nasdaq-listed Internet service provider Pacific Internet Ltd (PacNet) said on Thursday it had agreed to purchase Australian Internet service provider Mira Networking Pty Ltd. "This acquisition is the first of many steps that we plan to take in building a nationwide Internet presence in Australia," Chan Wing Leong, PacNet's Chairman said in a statement. It said Mira Networking Pty Ltd was an ISP based in Melbourne with points of presence in Perth, Brisbane, Adelaide and Sydney. The company provides Internet access and web hosting services to both corporate customers and consumers. The statement provided no details on the price of the deal nor the status of the acquisition. PacNet executives were not immediately available for comment>>

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