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

To: ms.smartest.person who wrote (1628)	7/15/2001 12:53:05 AM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

TELSTRA HAS NO COMMENT ON BID FOR SINGAPORE S MOBILEONE 2001-07-14 Terms and Conditions Telecommunications giant Telstra Corp Ltd (ASX: TLS) said it isn't commenting on reports one of its joint venture vehicles has raised its bid for Singapore-based MobileOne Asia Pte Ltd. The Australian Financial Review today said: "The two-horse race to secure Singapore's number two mobile phone operator, MobileOne Asia, is intensifying with both Telstra Corp's joint venture and Maxis Communications Bhd of Malaysia raising their bids for the strategic operation. The AFR said reports from Singapore suggest the Regional Wireless Co joint venture, owned 60:40 by Telstra and Hong Kong-based Pacific Century CyberWorks Ltd, has increased its S1.2 billion to about S1.6 billion, including the offer of a convertible note that would convert into RWC stock. A spokesman for Telstra said the company hasn't ever commented on the Regional Wireless Co joint venture making a bid for MobileOne. In June PCCW deputy chairman Alex Arena said there had been a bid for MobileOne. He said at that stage PCCW held a 15 per cent stake in MobileOne, and that it would sell that into the Regional Wireless Co joint venture. Regional Wireless holds the mobile phone assets of HK Telecom. The AFR said it is understood MobileOne's vendors have rejected early bids from RWC and Maxis. ASIA PULSE Terms and Conditions Copyright© 2000 LEXIS-NEXIS, a division of Reed Elsevier Inc. All rights Reserved.