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

To: ms.smartest.person who wrote (1010)	4/7/2001 8:52:16 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

Singapore Telecom Interested in Buying MobileOne, If Permitted By Linus Chua Singapore, April 7 (Bloomberg) -- Singapore Telecommunications Ltd., the island's dominant phone company, said it would like to buy MobileOne Asia Pte., its biggest mobile phone rival, if regulators permit it. ``We are not sure we will be allowed to bid,'' Lucas Chow, chief executive of SingTel Mobile Pte., told reporters at a press conference. ``If we're allowed to bid, we are definitely interested.'' The city-state's phone regulator, Infocomm Development Authority of Singapore, could not be reached for comment. Shareholders of MobileOne, or M1, such as U.K.'s Cable & Wireless Plc said two days ago they are in talks to sell Singapore's second-biggest cell phone company, estimated by analysts to be worth $1.6 billion. Other M1 shareholders are Pacific Century CyberWorks Ltd. in Hong Kong, Singapore's Keppel Telecommunications & Transportation Ltd. and Singapore Press Holdings Ltd. SingTel is unlikely to be allowed to buy M1, analysts said, because the purchase would give it control of about 90 percent of Singapore's mobile phone market, and would defeat the government's efforts to fully open the city's phone market. SingTel's expression of interest in M1 comes two weeks after it said it's buying Cable & Wireless Optus Ltd., Australia's second-biggest phone company. M1 and Optus share the same shareholder in Cable & Wireless, which is selling Asian assets to focus on its corporate business. SingTel shares, which have lost a fifth of their value since it announced its bid for Optus, were unchanged at S$1.90 on Friday. quote.bloomberg.com