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

To: ms.smartest.person who wrote (3280)	10/20/2000 4:21:36 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 4541

CyberWorks' Li may seek bank finance to raise stake: report Friday, 20 October 2000, 9:15 a.m.(HKT) baby.boom.com.hk HONG KONG (AFX-ASIA) - Pacific Century CyberWorks Ltd chairman Richard Li may seek finance from banks to raise his personal stake in CyberWorks, the South China Morning Post reported, citing informed sources. The report said such a move would be aimed at stemming the recent sharp fall in CyberWorks' share price. The sources said complaints from shareholders, particularly former holders of Cable & Wireless HKT shares, on popular phone-in programmes are believed to be one of the factors behind Li's expected move to try to shore up the price. However, the report said one banker who will attend a meeting with Li next week said he was unaware of any plans Li might have to arrange financing for a share buyback. CyberWorks is already negotiating with banks to refinance 5.45 bln usd in debt due in February. A CyberWorks spokesperson said she was not aware of any financing arrangement, the report said. JMHO, but ... Here is another rumor citing a source, but not disclosing the name. Considering LI sold 1% of PCCW in August, one would think he has plenty of cash to buy back PCCW stock without seeking financing.