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

To: ms.smartest.person who wrote (1030)	4/9/2001 11:12:01 AM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

PCCW denies Telstra alliance is falling apart Pacific Century CyberWorks has denied media claims that its joint venture with Telstra is on shaky ground, and that it may reduce its stake in the Hong Kong Cyberport project. PCCW issued a statement Thursday addressing speculation in the media, originating from a report published in the April 4 issue of The Australian which alleged a deterioration in the partnership between Telstra and PCCW. PCCW said such claims were "patently untrue" and have been "rejected publicly by senior management of both companies". "I have the privilege of being the deputy chairman of Reach and a director of the boards of the Regional Wireless and Internet Data Centre joint ventures with Telstra" said Alex Arena, PCCW's deputy chair of the Executive Committee. "I see the reality of the situation daily and it is worlds apart from what I read in newspapers," Arena said. Arena added that there was "genuine enthusiasm" among both companies regarding the Telstra alliances. "We have been working with Telstra for over a year now and our relationship is growing stronger as we work together professionally to execute real business together." PCCW also categorically denied a report in the April 5 edition of the South China Morning Post that the telco had plans to reduce its stake in the CyberWorks technology park project. telecomasia.net