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

To: ms.smartest.person who wrote (719)	3/28/2001 11:30:03 AM
From: ms.smartest.person	Respond to of 2248

A PM from Jay Chen re PCCW Wednesday, March 28, 2001 12:21 AM ET To: Merryfield (who wrote) From: Jay Chen Hi Merry, I am on client's corporate proxy server. Slow but serviceable. PCCW should write off all of their internet investment in one shot, and just show their goodies in the form of the old HK Telecom...declining long distance business, healthy cellular, and potential regional growth via acquisition, alliance and China. Especially now that valuations have come down across the board. But, PCCW has a debt, revenue, profit problem, and has a funding problem. It also lacks a publicized strategic direction. They are on fire. To fund the ambitions as described above, PCCW should work out a deal with Hutchison for equity injection. My guess would be Hutchison/Cheung Kong will eventually do so, but at lower still prices. The lower still prices will be via general market momentum (Nasdaq etc) and via further manipulation during tense market times. Stealing becomes an addictive habit. Rumor in Taiwan and in telecom circle says PCCW was always a papa Li's effort, fronted by son Li. Rumor says PCCW will have China deals that matter. This could be true, and I would not be surprised. I have not sold any shares I bought earlier, and will add by and by. No partibular hurry though, until I see the main event effort at stealing. The previous HK$ 5.5 warrant issuance probably was not the main theft event, as the global stock markets put the botch on that event. On Richard's degree... I remember I had posted on the 9984 thread long time ago that I had attended a lunch where Richard spoke, and that I wrote "the world has nothing to fear from the guy". He is sharp, but more importantly, he is rich to begin with. Chugs, Jay