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

To: ms.smartest.person who wrote (302)	2/8/2001 1:16:26 AM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

Personal ties: Li Ka-shing is a seasoned investor who knows a good business deal when he sees one, but, like many hardened tycoons, he does not appear to believe in corporate charity. As the head of Hutchison Whampoa, the successful Hong Kong-based telecommunications company, Li has invested a great deal of money in smaller telecom providers, but this week he had the opportunity to mix business with family. Part of a stake in his son Richard's company, Pacific Century CyberWorks, is up for sale, but refusing to bow to emotion, Li chose not to buy. His son's company has been performing poorly despite having a strong presence in the Hong Kong mobile market, but the father said there was a more basic reason for the rejection. "Hutchison will not consider it because there is a conflict of interest," Li said. (The father and son's companies are the two largest mobile telephone operators in Hong Kong.) Rumours are doing the rounds in Hong Kong that an influential company from China may decide to invest in Pacific Century CyberWorks, which could leave Li with even more competition from a more powerful source than that mounted by his son. Last week's Overview incorrectly described Sara Lee as a subsidiary of Unilever. Copyright: The Financial Times Limited globalarchive.ft.com