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

To: ms.smartest.person who wrote (4086)	12/9/2000 1:10:41 AM
From: ms.smartest.person	Read Replies (1) \| Respond to of 4541

Telstra may develop MVNO biz outside HK & Aussie 2000-12-06 16:47 (Infocast News) Telstra revealed that the company is looking for development of MVNO business in areas outside Hong Kong and Australia. Dick Simpson, Managing Director of Telstra OnAir, a subsidiary of Telstra, said that Telstra already has a clear blueprint for the development in Asian region. Telstra and Pacific Century CyberWorks (0008) have formed strategic alliance and joint venture companies to develop in the Hong Kong market. The joint venture company will try its best to get a 3G mobile phone license in Hong Kong. He also said that the mobile phone joint venture with PCCW may borrow loan for investment in the 3G business in Hong Kong. He thinks that price of Hong Kong 3G license is incomparable with that in the UK and Germany, as Asian markets are more diversed and the UK and German markets are two major strategic markets for expanding business in Europe. He said that CSL, a subsidiary of the mobile phone joint venture company, is not indebted, that will facilitate future financing. Ziggy Switkowski, Chief Executive Officer of Telstra, said recently that as the market situatiuon turns unfavorable, none of the company's joint venture units with PCCW will be listed shortly. He said that the major reason for listing them is to expand business by raising funds, and the companies may expand their businesses by share swaps with new shareholders. Dick Simpson said that if one of the joint venture companies must be chosen to list first, he will choose the IP backbone company, as the unit is holding seabed cable assets of both PCCW and Telstra that has greater value-added potential and synergies. infocastfn.com