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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF) -- Ignore unavailable to you. Want to Upgrade?

To: 10thangel who wrote (515)	3/1/2000 3:07:00 AM
From: Dorine Essey	Respond to of 4541

Story on PCCLF bank loans- HONG KONG, March 1 (LPC) - Pacific Century CyberWorks' (PCCW) success in clinching a deal to buy Cable & Wireless HKT with a US$35.9 billion cash and share deal means that syndication of Asia's largest loan facility will go ahead, bankers said on Wednesday. ``The final size of the facility has not been determined yet,' said Grace Tam, managing director of global loan syndications at Barclays Capital. ``But given that the cash amount that PCCW is paying is US$11.3 billion, the facility amount will be US$11.3 billion or slightly more.' The facility is secured against C&W HKT shares, said Tam. There had been speculation in the loan market that the four banks arranging the bridging loan -- BOCI Capital, HSBC Investment Bank Asia, BNP and Barclays Capital -- might not syndicate the loan and choose instead to keep the highly lucrative fee income from the deal to themselves. But one senior banker close to the deal said the sheer scale of the facility meant that a global syndication was inevitable and was likely to begin within the next two weeks. Tam said the arranging banks hoped to be in a position to approach the market next week although the arrangers would be looking to hold a significant portion of the debt for themselves. In terms of the underwriting breakdown, BOCI Capital and HSBC are each underwriting 30 percent of the facility, while Barclays Capital and BNP will each take 20 percent apiece, said Tam. Under terms of the agreement, PCCW will exchange each C&W HKT share for 1.1 PCCW share or a combination of 0.7116 PCCW shares and 92.9 US cents. The maximum amount of cash to be paid out under the cash and share combination option is US$11.3 billion, according to a PCCW announcement to the stock exchange on Wednesday. How much of the loan facility is actually drawn depends on how many C&W HKT shareholders choose to take up the combination cash and share offer, bankers said. Mike Goldstein Mlnrclb@Financialville.com

To: 10thangel who wrote (515)	3/1/2000 7:45:00 AM
From: mike machi	Read Replies (1) \| Respond to of 4541

int.quamnet.com Link above for HK quotes. I would follow this board and the RB board. Good Luck to you.... Mike

To: 10thangel who wrote (515)	3/1/2000 2:17:00 PM
From: IngotWeTrust	Read Replies (1) \| Respond to of 4541

A cpl things for you to consider : your new investment has beaucoup shrs outstanding...just a shade under 10 BILLION shares, so it will take a heck of a lot to make this stock move higher than your initial acquisition price plus commission's cost. I'm not saying this is "bad" just a fact of investing in this particular stock. However, if one is comparing apples and oranges, i.e., a movement in a multi-MILLION share outstanding stock, vs anticipating a movement in a multi-BILLION share outstanding share stock, an investor needs to keep this indisputable fact in mind to keep his/her emotions disciplined. : yes, CURRENTLY, news sourcing is limited on foreign stocks, and the internet is your best hope (ala Mary's efforts this past few days in particular.) However, there is one piece of information about your new investment that even the internet is going to be more valuable in gathering/interpreting, and that is this: Foreign companies play by a different set of accounting standards, a different set of reporting frequencies, a different set of oversight/accoutability to a quasi-government agency the equivalent of our SEC. Now, I'll grant you the SEC does a pi&& poor job of enforcing and leveling the investment playing field here in America, ---where big money always greases the wheels, ---where corporate Chief Financial Officers dictate what the expected earnings per share report "needs to be" to the lowly acc'tg departments before they are actually calculated and released, ---where they then incestuously "guide" anywhere from a handful to a bevy of analysts higher or lower, etc. Compared to foreign "standards" etc., our corrupt "oversight/analysts/CFO" shennigans look like a walk in the regulatory park. The only way the internet can help with this is if the Zen Warriors and Mark whozits CPA types who really enjoy "digesting" the foreign financial reporting fine print will occasionally stop by here and illuminate us, which we have a good chance of seeing, either here or most likely on RB first. Hope this helps you sleep better with your investment, that is if you have mastered sleeping w/your eyes open.<g> Good Luck!

To: 10thangel who wrote (515)	3/22/2000 1:46:00 PM
From: IngotWeTrust	Read Replies (1) \| Respond to of 4541

Merry sez: PCCW (1186) Losses Mount, $280 M Down, Accounting Magicians Come to Aid Thank you PCCW! Thank you for doing as most of us expected you to do. You played with the books -- all entirely legally and above-board -- to book a profit when you knew the numbers were going to otherwise be pretty embarrassing In my reply to your initiating post: http://www.siliconinvestor.com/readmsg.aspx?msgid=13015409* , you may recall reading this statement amongst the other jewels of experience it contained: Foreign companies play by a different set of accounting standards, a different set of reporting frequencies, a different set of oversight/accoutability to a quasi-government agency the equivalent of our SEC. While "all legal and above board" as Merry claims above, it is NO coincidence that shares of 1186 (PCCW) have fallen since the stock price euphoria re: C&W HKT buyout. I submit that "accounting magic" only entertains Las Vegas drunken audiences. Obviously, some "big boys" aren't even "smiling." The fact that young Richard Li couldn't resist "playing with the numbers" in this in FIRST post buyout proposal set of financials reported, in order to try to obfuscate loss and making it darn near impossible to compare apples with apples, is an example of a very aggressive YOUNG ceo overreaching. The institutional shareholders, the size of Goldman Sachs no less, are slapping him around a little, which of course, hurts the shareholders, let alone is threatening to unravel the C&W HKT "deal." Not only is the inexperienced Li "being shown a thing or two," it was a lousy timed risk for him to take...aka being this aggressive during the syndication presentation of his "oversubscribed" $13 billion loan facility, canNOT be instilling confidence in the young ceo, nor his ability to deliver upon his word, let alone "keep" his word. Reminds me of the old TV imitation butter commercials here stateside...remember the ones where the lightning crashes and the thunder rolls as a strident female voice intones: "It's not *NICE* to fool Mother Nature!!" Since you posted you are a long-term PCCW holder once you've taken a position, I sincerely hope 3 things for you: 1) you are comfortable with your price entry point 2) you are increasingly comfortable with your personal research into information sources regarding this foreign stock holding. 3) you are extremely successful in your long term investing strategy with this stock selection.