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

To: ms.smartest.person who wrote (539)	3/10/2001 10:48:19 PM
From: ms.smartest.person	Respond to of 2248

Will ATVI shareholders accept $25/share bid? Not likely. ATVI closed Friday at $24.62, just off its 52-week high of $25.25 (3/8/01). IMO ATVI shareholders would be fools to accept that offer. ATVI has been one of the few shining lights on the Nasdaq over the past few months. Would think shareholders would be looking for at least a 50% premium. The rumored $25/share offer values the deal at US$657.5 million. If Li is somehow able to do a stock only deal, we are looking at 1,263,461,538 shares of PCCW! Now, would Li print more shares? We are already at 22+billion with the Hutch deal. Then PCCW has the fee to whoever brokered the deal (probably paying in more PCCW shares) and if there is cash involved, someone is going to get a fee for the financing. IMO with the C&W overhang out there, PCCW still has more downside. One news source did say Japan CyberWorks was making the offer. O/S for Japan CyberWorks have not reach stronomical heights ... yet. And, they probably have some cash and better credit rating. But CyberWorks Japan is only a few months old. Strange that the news comes out on a UK site and is picked up by ZDnet and Daily Radar both quoting the same source: MCV UK. Only one source for rumor. I wonder if this is a Murdoch rumor. Merry