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

To: ms.smartest.person who wrote (967)	4/4/2001 1:32:50 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

Cable & Wireless/PCCW/Bond Price -2: To Sell 14.7% Stake Updated: Tuesday, April 3, 2001 04:21 AM ET LONDON (Dow Jones)--Cable & Wireless PLC (CWP, news, msgs) Tuesday said it has set an exchange price of HK$3.60 for its issue of zero-coupon bonds which are exchangeable into shares of Pacific Century CyberWorks Ltd. (PCW, news, msgs). A source close to the deal had told Dow Jones Newswires late Monday that the exchange price would be set at HK$3.60. The price is at the bottom of the range of between HK$3.60 and HK$3.80 that was set Monday. As reported, Cable & Wireless is selling its entire 14.7% stake - or 3.26 billion shares - in PCCW via a $1.5 billion issue of two-year zero-coupon exchangeable bonds. C&W said if the bonds aren't exchanged before June 9, 2003, the bonds will be redeemable at par. -By Joyanta Acharjee, Dow Jones Newswires; 44-20-7842-9327; joyanta.acharjee@dowjones.com quicken.com