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10:27 17-OCT-2000 PCCW (0008-HK) reported dropping plans for share issue Under the merger document between Pacific Century CyberWorks (PCCW) and Cable & Wireless HKT, PCCW was to issue US$500 million (HK$3.9 billion) in preference shares to US-invested funds Hicks, Muse, Tate and Furst (HMTF). This was to take place after the merger became effective and the share swap between CMGI and Cable & Wireless plc was completed. However, the group is now reviewing the arrangement as it feels it can take loans bearing low interest rates which would be less than the capital costs incurred for the issue of preferential, according to the Hong Kong Economic Times, citing a source close to PCCW. Norman Yuen, deputy chief executive officer of PCCW, stressed that the group has a sound financial position and it may not be necessary to issue preference shares. He added that there is no deadline in the merger document for such an issue. He denied that this would have an impact on the merger terms. (End) |
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| aus der Diskussion: | PCCW-News, Berichte & Stories 42.KW in Deutsch/Englisch |
| Autor (Datum des Eintrages): | Kersken (17.10.00 07:52:53) |
| Beitrag: | 20 von 67 (ID:2094626) |
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