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

To: ms.smartest.person who wrote (2321)	9/9/2000 1:14:34 AM
From: ms.smartest.person	Respond to of 4541

Infocastfn.com: PCCW Headlines for 08-09-2000 infocastfn.com CMGI pulls out from forming venture capital w/ PCCW(008) 2000-09-08 09:59 (Infocast News) Besides having change the cooperative plan with Gigamedia, Pacific Century CyberWorks (0008) (PCCW) also change in cooperation with CMGI, an US Internet investment company. To control costs more efficiently, CMGI will terminate its cooperation with PCCW, Hicks, Musc and Tate&Furst to form a $11.7 billion (US$1.5 billion) venture capital. At present, CMGI has 714 million PCCW shares. CMGI has no intention to sell the PCCW shares, as reported by Hong Kong Economic Times, citing the company spokesperson. The spokesman also stressed that CMGI Asia, a company formed by PCCW and CMGI this January will not be affected by the cost control plan. Telstra completed A$2.25B loan 2000-09-08 15:39 (Infocast News) Telstra, an Australian telecommunication company, has completed a 5 year loan facility of A$2.25 billion (about HK$9.8 billion) years. It is expected that the loan will partly used to handle the expenses incurred by allying with Pacific Century CyberWorks (0008). PCCW (0008) granted Super-Cable licence 2000-09-08 19:03 (Infocast News) Pacific Century CyberWorks (0008) (PCCW) announced to have been granted a licence to transmit high-speed information along the world's first "super-cable" linking Asia and Europe. With a total capacity of 40 gigabits per second, this linking, called SMW3, is the largest Asian-Europe cable and the longest undersea cable in the world. This hook-up means information can be piped directly from Asia to Europe, bypassing the US. SMW3 cable, costing US$1.5 billion overall, is a 40000 kilometre, two-fibre pair optical fibre system which connnects 39 landing points from Asia to Western Europe. Keith Harrison, Managing Director of PCCW's Global Communications sector, claimed that super-cable direct access means faster service, and quicker download times of up to 30% for customers. He added that PCCW's cable access will reduce costs while increasing efficiency. PCCW and proposed IP Backbone partner Telstra of Australia have invested US$120 million in the venture.