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

To: ms.smartest.person who wrote (1235)	5/18/2001 1:42:28 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

Telstra CEO: No Comment On Reports Richard Li May Leave Updated: Friday, May 18, 2001 12:53 AM ET SYDNEY (Dow Jones)--Telstra Corp. (TLS, news, msgs) Chief Executive Ziggy Switkowski said Friday that the company's joint ventures in Asia with Hong Kong's Pacific Century CyberWorks Ltd. (H.PCW, news, msgs) are progressing well. The companies are looking to expand in several countries, in particular Hong Kong, Singapore, Japan, Malaysia and Vietnam, he said. Switkowski noted that the companies also are interested in entering the China market. "We see opportunities in China with PCCW," he said. Switkowski declined to comment on recent media speculation that PCCW Chief Executive Richard Li may step down. "I have no information at all behind those articles," he said, refering to reports in Asian newspapers. Switkowski made potential business in China a key part of his speech at the Australian British Chamber of Commerce lunch. He said he expects any formalization of business in China to be some way off, but said, "China is our screen." Later in a press briefing, Switkowski continued to talk about expansion in Asia, in particular China. He said Telstra is still in discussions with China Unicom Ltd. (CHU, news, msgs) but he feels "no sense of urgency," in formalizing any arrangement. Telstra has been reported to be in negotiations with China Unicom on helping it roll out its mobile telephone network across more than 200 Chinese cities. Turning to Telstra's domestic operations, Switkowski noted that the sale of its Network Design and Construction unit is progressing well. He didn't give a timeframe for a sale but said the "process is well advanced." He declined to say how many businesses have bid for NDC, which analysts expect is worth about A$300 million to A$400 million. Around 0450 GMT, Telstra shares were down 7 cents, or 1.1%, at A$6.53. The broader market was down 0.2%. -By Graham Morgan, Dow Jones Newswires; 61-2-8235-2962; graham.morgan@dowjones.com quicken.com