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Technology Stocks : PCW - Pacific Century CyberWorks Limited -- Ignore unavailable to you. Want to Upgrade?

To: ms.smartest.person who wrote (76)	1/15/2001 2:58:21 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

Australia's Telstra May Delay Float of Internet Protocol JV SYDNEY, Jan 15 Asia Pulse - Telstra Corp Ltd (ASX:TLS) has said it may have to delay the float of its Internet Protocol (IP) backbone joint venture with Pacific Century CyberWorks Ltd (PCCW), according to speculation in the Hong Kong media. The South China Morning Post quoted analysts over the weekend as saying that a downturn in sentiment towards global telecommunications stocks would delay the spin-off. Telstra previously hoped to float the IP backbone company by the middle of this year. In October, it finalised a $A4 billion ($US2.22 billion) alliance with PCCW to create a pan-Asian mobile phone business, the IP backbone company and an international data company. The newspaper quoted unnamed analysts saying lower competitiveness and heavy financial pressure contributed to the internal risk for the company's IPO. It quoted PCCW deputy chairman Francis Yuen Tin-fan as saying the listing plan was yet to be decided. The company is expected to be established in mid-February. Telstra shares closed on Friday at $6.78. ASIA PULSE asia.dailynews.yahoo.com