Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: ms.smartest.person who wrote (343)	2/19/2001 12:22:37 AM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

C&W declines to say whether to sell PCCW shr instantly 2001-02-16 18:54 (Infocast News) The lock-up period of the 7.45% share capital of Pacific Century CyberWorks (0008) held by Cable & Wireless is to expire tomorrow. In his reply to Infocast, Peter Eustace, the spokesman for Cable & Wireless, declined to say whether Cable & Wireless is to sell the shares instantly upon the expiry of the lock-up period. He said that after placing the 4.9% PCCW shares on 21 September, 2000, the company still now holds 3.26 billion shares, or 14.9% issued share capital, of PCCW. He said that the company is entitled to sell half of the shareholding, that is 1.63 billion shares, starting from tomorrow. The remaining shares can be sold half year later. He also declined to comment on the rumour that Merrill Lynch has given up finding buyers of the PCCW shares held by Cable & Wireless and whether Cable & Wireless is to decrease its shareholding through convertible bonds. The share price of PCCW closed today at $4.625, down $0.025 or by 0.54%. The share price has a discount of 53% compared with the price at which Cable & Wireless disposed the PCCW shares last year. infocastfn.com