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Pastimes : Crazy Fools Chasing Pacific Century CyberWorks Ltd -- Ignore unavailable to you. Want to Upgrade?

To: ms.smartest.person who wrote (37)	8/5/2001 7:50:23 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 102

[00-2-14] Pacific Century CyberWorks, C&W HKT In Merger Talks By Adam Creed, Newsbytes. SINGAPORE, 14 Feb 2000, 3:39 AM CST ****Pacific Century CyberWorks, C&W HKT In Merger Talks 02/14/00 SINGAPORE, 2000 FEB 14 (NB) -- By Adam Creed, Newsbytes. Pacific Century CyberWorks (PCCW), the Asian technology joint venture between Intel Corp. [NASDAQ:INTC] and Richard Li's Pacific Century Group, approached Hong Kong-based telco Cable & Wireless HKT for merger talks late on Friday. The merger of the two companies would combine Cable & Wireless HKT's telecommunications and broadband Internet services with one of the most aggressive Asian Internet content companies. PCCW has taken a whole range of stakes in or formed joint ventures with Asian and US-based portal and e-commerce companies. Among these are interests in online entertainment content portal Star East IT, a stake in Asia Pacific Web developer Spike Networks, a $129 million interest in Nasdaq-listed SoftNet Systems, a 20 percent stake in Web developer OutBlaze Ltd, and more recently, a joint venture with global Internet giant CMGI. "The directors of PCCW believe that a combination of Cable & Wireless HKT's prime quality broadband network together with PCCW's broadband Internet content proposition would create an undisputed Asian internet powerhouse, and eventually a truly global leader with roots in Hong Kong," said the company, in a statement. Under the proposed transaction, shareholders of Cable & Wireless HKT would receive cash and shares in PCCW. The deal is subject to the two companies agreeing on terms and gaining all necessary approvals. Reported By Newsbytes.com, newsbytes.com 03:39 CST (20000214/WIRES ASIA, ONLINE, TELECOM, BUSINESS/HKCYBER/PHOTO) © 2001 The Washington Post Company newsbytes.com