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

To: ms.smartest.person who wrote (198)	2/1/2001 11:41:16 AM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

STOCKWATCH AFX Europe; Jan 30, 2001 Pacific Century CyberWorks Ltd shares were lower in late morning trade after chairman Richard Li disclosed plans to bid for third generation licences in Hong Kong and possibly Singapore, dealers said. At 11:54 am, PCCW was down 0.25 hkd or 5.236 pct at 4.525 on volume of 27.272 mln shares. The Hang Seng index was down 58.99 points at 16,040.83. In an interview with AFX News on the sidelines of the World Economic Forum in Davos, Li said PCCW will be bidding for a 3G licence in Hong Kong and could not afford not to consider bidding for a licence in Singapore given the importance of that market. Dealers said the weakness in the share price was just a knee jerk reaction to Li's comments, which came amid a lack of fresh positive leads. They said PCCW's participation in 3G auctions will via its joint venture with Telstra Corp in Hong Kong and possibly via Mobile One in Singapore. PCCW owns a 15 pct stake in Mobile One through a joint-venture company with Cable & Wireless PLC. In both instances, PCCW is unlikely to have to come up with additional cash itself for the 3G licences, dealers said. GK Gor the joint venture," he said. The joint venture has the option oftrategy." He said when the telecoms sector does begin to recover, PCCW will ra/jw. World Reporter All Material Subject to Copyright globalarchive.ft.com