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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: JDN who wrote (4266)	2/13/2000 9:49:00 AM
From: MileHigh	Read Replies (2) \| Respond to of 15615

Uh oh! The list of available partners is getting smaller. GBLX gets a bit more valuable if this goes through... Top Financial News Sun, 13 Feb 2000, 9:41am EST SingTel, Cable & Wireless HKT, CyberWorks Hold Talks on Possible Merger By Linus Chua (Rewrites throughout.) Hong Kong, Feb. 13 (Bloomberg) -- Cable & Wireless HKT Ltd. held talks this weekend with Singapore Telecommunications Ltd. and Pacific Century CyberWorks Ltd. that analysts said may lead to a three-way merger of two of Asia's biggest phone companies and the region's largest Internet firm outside Japan. HKT said its advisers met their counterparts from CyberWorks on Saturday. SingTel said it is also in talks with HKT. CyberWorks didn't comment on HKT's talks with SingTel, leaving it unclear whether it aims to complement or rival SingTel's plans. Together, the three companies would have access to millions of customers in two of Asia's biggest telephone markets. A single entity would control 60 percent of the phone market for multinational businesses in Asia outside of Japan and have a market capitalization of S$100 billion ($59 billion). Combining HKT's network with CyberWorks' Internet services would create ``an undisputed Asian powerhouse and eventually a truly global leader with roots in Hong Kong,' CyberWorks said in a statement. A CyberWorks proposal would involve cash and shares, the company said, without being more specific. SingTel and HKT announced two weeks ago they were in talks to form a $26 billion company with a footprint in two of Asia's biggest telephone markets. SingTel presented a detailed proposal for a merger with HTK Saturday that involves both cash and stock, a banker close to the talks said. ``The talks are still continuing,' said Ivan Tan, a SingTel spokesman. Asia Online CyberWorks, established just nine months ago by Richard Li, the son of Hong Kong tycoon Li Ka-shing, is building an Internet network in Asia. A stake in the combined company would give it the ability to deliver electronic commerce and multimedia services throughout Asia. HKT shares were suspended Friday after surging 23 percent to HK$21.65, the biggest one-day gain in at least a decade. They will resume trading Monday. CyberWorks, also suspended on Friday, said it asked to have its shares resume trading Monday. The shares were last quoted at HK$24.65, up from just 15 HK cents last April when Richard Li bought the company and renamed it to reflect his Internet focus. CyberWorks said Friday that it hired Warburg Dillon Read and Bank of China to evaluate a possible investment in HKT. The company denied a report that it formed a group including Hutchison Whampoa Ltd. and Cheung Kong (Holdings) Ltd., saying it hasn't formed a group ``at present.' Company officials declined to comment on other reports in Hong Kong newspapers. The Hong Kong Economic Journal said an unidentified U.S. telecommunications firm hired Salomon Smith Barney Inc. as an adviser for a possible HKT bid. Apple Daily reported that CyberWorks may buy a 27 percent stake in HKT from its parent, Cable & Wireless Plc. ¸2000 Bloomberg L.P. All rights reserved. Terms of Service, Privacy Policy and Trademarks.

To: JDN who wrote (4266)	2/13/2000 1:14:00 PM
From: Theophile	Respond to of 15615

JDN, I will be humbled if the earnings are NOT short of remarkable, and hopefully fabulous. I just cannot fathom that management would not have targeted their progress from months past, to synchronize this 2nd report post-FRO acquisition to be less than great, even if remarkable and fabulous are not achieved. I just believe the short positions sitting on the stock may have something to do with the slowdown in acquisitions....or maybe some other plan is cooking, of course. I have no reliable data to surmise any particular plan, but I must at least postulate something to account for this decision re the day of options expiry for earnings report. CPI numbers come out that day, and GSpan speaks the previous day, but these are uncontrollable events.....something seems to be cooking, and these guys have amazed me time after time. In brief, Yes, I do sincerely believe I will be pleased by this time next weekend. I will try to remain calm, and as Robert Sheldon, continue with my digging and researching. Keep posting..... Martin Thomas