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

To: ms.smartest.person who wrote (452)	2/25/2001 10:24:26 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

PCCW Plans to Rationalize Its Data Center Portfolio - SCMP Feb 26, 2001 - 09:56:51 HKT Quamnet News Service Pacific Century CyberWorks (0008) plans to 'rationalize' its overlapping portfolio of data-center firms in a move that "may or may not" see assets injected into its 40.84 percent held iLink.net, the South China Morning Post reported, citing a leaked iLink offering document. The shake-up of PCCW's data-center business will follow the planned listing of iLink on the Growth Enterprise Market, the paper said. The Hong Kong-based data center operator, competes with other PCCW units Powerb@se, Beijing Centergate Data Technologies Co. and a data-center joint venture with Australia's Telstra. "PCCW may draw up a plan to rationalize such businesses. PCCW may or may not combine its data center businesses and/or interests with iLink.net and there is no specific timetable ... to rationalize the data center businesses," the offering prospectus said. iLink.net is seeking to raise as much as HK$140.8 million through a listing on the Growth Enterprise Market on March 9, said a banker involved in the share sale. The company will sell 110 million new shares, or 10.4 percent of its enlarged share capital, at HK$1.10 to HK$1.28 each through a private placement to investors by BNP Paribas Peregrine from today to Feb. 28. No shares will be available for retail subscription. Pricing of the issue will be fixed on March 1. BNP Paribas Peregrine currently values the unprofitable data center operator at US$250 million. iLink is owned 40.84 percent by PCCW; 30.38 percent by RadarNet, a unit of DotCom Pacific Ventures; 11.25 percent by an unnamed investor through HSBC Trustees; 6 percent by a venture capital fund controlled by Dell Computer; and 11.52 percent by Newspeed Technology, a unit of Henderson Land Development (0012). quamnet.com