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

To: ms.smartest.person who wrote (1749)	7/29/2001 12:15:23 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

Maxis, Regional Wireless increase M1 bids SINGAPORE—Malaysia's Maxis Communications and Regional Wireless, which is a 60:40 joint venture led by Australia's Telstra and Hong Kong's Pacific Century CyberWorks, are said to be increasing their bids to acquire Singapore's MobileOne (M1). The bids will be revised upward from the present US$1.2 billion to between US$1.4 billion and 1.6 billion. The bids will be financed by cash and issuing convertible bonds. Maxis is increasing its bid to US$1.4 billion from the earlier US$1.2 billion. M1 rejected both companies’ earlier bids as being too low. There is speculation the Maxis bid could be turned down in the same manner that a bid by Singapore Telecom to take a stake in Malaysian mobile-phone company Time Dotcom was turned down due to political reasons.