PCCW Neue Kaufempfehlung mit KZ 35 HKD 14.4.00 - 500 Beiträge pro Seite

[Lu33]

Hallo PCCW-Fans
hier eine neue Kaufempfehlung für PCCW mit Kursiel auf 12 Mon
von 35 HKD = ca.4,40E


PACIFIC CENTURY CYBERWORKS (1186)

BUY HK$15.40 (HSI 16,577)

PCCW is a venture capitalist involved in the technology sector and a property developer. It
will provide 2-way interactive broadband Internet services through a combination of satellite and cable infrastructure. It also will develop the Cyber-port project with the HK Government.




12mth High/Low
HK$28.50/ HK$0.175


Daily T/O (3mth)
HK$1.39b
Issued Shares
10,180m
Market Cap.
HK$156.7b
Free Float Est.
30%
Major Shareholder



PCC group ofcompanies


63.40%
CMGI


5.50%
Book NAV Dec/98
HK$0.25
ROA 98
-15.70%
Price to Book
61.6x
ROE 98
-43.00%
Gearing Ratio
Net cash


SC Risk Reward Ratio


8.8%/9.1%
Rel. to HSI
1mth: (23.5%) 3mth: (9.3%)
12mth: 5,458.8%



(Analysis ¡V Full Cover)


Price Chart

¡@




Impact ¡V Strategic alliance with Telstra

Price Target ¡X HK$35.00 (12mth)

PCCW announced it will form a strategic alliance with Telstra, the largest telephone company
in Australia, in the areas of mobile phones and network businesses. The alliance is expected
to enhance PCCW`s broadband network exposure to Asia.

Under the proposal, given the approval of the merger between PCCW and C&W HKT, Telstra
will pay US$1.5b for 6-year convertible notes of PCCW, which will translate to about 2% of the
enlarged share capital if Telstra exercises the CB, (set at HK$19.42). Meanwhile, Telstra will
pay another US$1.5b for a 40% stake in the mobile operation (¡¥Regional Mobile Co`) of
PCCW-HKT. After the deal, PCCW-HKT will hold 60% of the Regional Mobile Co and Telstra
will take the remaining 40%. Telstra is expected to inject US$1b worth of mobile assets in the
mobile JV.

The current mobile subscription base of HKT is 1m and the JV will be estimated to have 3m
subscribers, with Telstra expected to contribute 2m subscribers from Sri Lanka, Singapore and
Thailand. This represents that Telstra has paid US$4,000/sub (based on the consideration of
US$1.5b) to PCCW-HKT for its 1m mobile subscriber base. PCCW-HKT will also inject a 15%
stake in Mobile One, a Singaporean mobile company, in the JV. The JV is aiming at providing
wireless data transmission and eventually B2B e-commerce business in the Asian region.

Meanwhile, PCCW and Telstra will also form a 50-50 JV, called Regional IP Backbone Co, in
which both PCCW and Telstra will inject their submarine cable, satellite and infrastructure
assets to become a global carrier of data, voice and Internet services. The JV will enhance the
accessibility of PCCW`s NOW portal in Asia. Telstra will also facilitate NOW content,
application and distribution in Australia. The two JVs are scheduled for separate listings in the
coming 18 months.

After the completion of the deal, PCCW-HKT`s debt level of US$11.3b will be substantially
reduced, having received the US$3b from Telstra and putting this with their already held US$1b
cash.

¡@

Conclusion

The strategic alliance with Telstra does not only reduce its gearing, but also strengthens its
connectivity of their NOW network and wireless data transmission in Asia. This co-operation acts as
regional expansion for PCCW`s broadband distribution. The move does not violate the commitment
made by PCCW not to sell HKT`s assets after the PCCW-HKT merger, but can successfully cash in
on this asset. We expect similar alliances to be bought in later and we remain positive towards its
NOW network. We maintain our BUY recommendation, with a 12-month target price of HK$35.00.

¡@

Research Department [phone]
Email [e-mail]

[El Dinero]

Ach, wenigstens etwas SONNE in der NACHT...

[mirus]

Tja, mit PCCW geht die Sonne auf!
Gruß - mirus

[BetaLoop]

Traue keinem Analysten, er könnte selbst investiert sein...

[Risikorobby]

Hallo Leute !
Natürlich bin auch ich von PCCW begeistert und denke, das diese
Aktie mich auf sicht von 4 Jahren vermögend machen wird.
Habe gehört, das PCCW bei einem bestimmten Wert an die NASDAQ
geht. Weiß jemand was darüber?????????????????????

[preppy]

High! Ich glaube du musst einen Wert von 5$ haben.

[nr69]

Kann hier jemand die englischen Beiträge übersetzen.
ie Boards würde bestimmt voll sein ;-)

CU und Gruß

[scheißegal]

An BetaLoop,bester Beitrag darum 100 Punkte!!!!!!!!!!!!!!!!!!!!!!!!!!

[sidney1999]

Kaufempfehlung - gut und schön ! Nur habe ich von der Commerzbank den lapidaren Hinweis bekommen: ...Ihr Auftrag konnte nicht ausgeführt werden. Kann man die PCCW überhaupt noch kaufen ???

[börsenfüxlein]

kann mir jemand sagen wie pacific in amerika geschlossen hat.

danke

mfg
füxlein

[naughty by nature]

Moin bei Comdirect ( oder sonstwo ) das Kürzel PCCLF eingeben. Geschlossen bei 2.04 $

gruß naughty

[Woffi]

Find ich gut mit dem Kürzel an der Nasdaq...

wie komm ich denn an andere Kürzel wie z.B. von Tom.com oder Legend
Holdings...

Danke...

[kelli]

schlußstand nasdaq 1,55$, d.h. kaufen, kaufen......

diese kurse sehen wir nie wieder!!!!!

kelli