PCCW-News, Berichte & Stories 45.KW in Deutsch/Englisch - 500 Beiträge pro Seite

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PCCW plant Umstrukturierungen bei NOW und iTV

PCCW plant laut "Hong KOng Economic Times" Umstrukturierungsmaßnahmen bei NOW und iTV, zwei Töchter mit einer sehr hohen Burn-Rate. Die weiteren Pläne sollen in zwei bis drei Wochen heraus gegeben werden. Jetzt schon schloß man aber einen Produktions-Center in Chai Wan. Weiter plant man 50 % der Beschäftigten von NOWs britischer Einheit zu entlassen. In Hongkong sollen zudem 40 bis 50 Leute entlassen werden.

Infolge der Sparmaßnahmen und der Umstrukturierung wird sich auch der Start der chinesischen Version von NOW, die ursprünglich im Januar starten sollte, verzögern.

iTV soll nach Aussagen von Mitarbeitern zufolge in den nächsten zwei Monaten mit neuem Image neu gestartet werden. Man will sich mehr zum WebTV hin entwickeln.

NOW ist der erst im Frühsommer gestartete Breitbanddienst von PCCW. Bisher ist der Service aber nicht so erfolgreich angekommen wie erwünscht. Hoffnung setzt man auf den Start der chinesischen und japanischen Versionen im nächsten Jahr.

-js- 06.11.00 07:53:00

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08:53 06-NOV-2000
PCCW (0008-HK) secures US$4.7b refinancing

Pacific Century CyberWorks Limited has secured US$4.7 billion (HK$36.66 billion) in refinancing at an overall interest rate of less than 100 basis points above LIBOR, the SCMPost reported.

The company, whose former bank debt of US$12 billion will be reduced to about US$4.1 billion once a recapitalisation exercise and joint venture agreements with Australia`s Telstra Corporation are completed, was negotiating a refinancing package with bankers in a bid to cut its debt service costs.

The syndicated loan, together with the proceeds it will receive from a fully underwritten US$2 billion loan for its Internet protocol backbone venture with Telstra, would allow PCCW to refinance a US$9 billion bridging loan due on February 27, the newspaper quoted PCCW spokesman Rebecca Leung as saying.

The PCCW spokeswoman told the newspaper that the company has opted for a US$4.7 billion loan, instead of a minimum US$4.1 billion loan, to cushion its working capital needs.

(End)

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North Asia News
Mon, 06 Nov 2000, 1:17pm HKT
CyberWorks to Appoint Banks This Week to Refinance $9 Bln Loan
By Rob Stewart and Cathy Chan

Hong Kong, Nov. 6 (Bloomberg) -- Pacific Century CyberWorks Ltd. said it will appoint banks this week to arrange a $4.7 billion loan to help repay a $9 billion credit used to fund the firm`s purchase earlier this year of Cable & Wireless HKT Ltd.

Asia`s No. 2 Internet company needs to repay the loan by February otherwise and has been discussing the refinancing with banks the past few months.

``So far, a very positive response has been received from the 10 banks approached by (CyberWorks),`` said Rebecca Leung, senior vice president of the company. ``We will pick up to four banks`` to underwrite the loan by the end of this week, she said.

The banks are likely to ask for interest of less than one percent above the London Interbank Offered Rate -- currently about 6.75 percent -- meaning CyberWorks will pay about $30 million a month in interest charges. Leung said no agreement has been signed yet.

CyberWorks has also secured a $2 billion loan to be borrowed by its 50-50 Internet infrastructure joint venture with Telstra Corp., Leung said. She refused to give the name of the banks and the pricing of the loan.

CyberWorks paid about $28 billion to buy Cable & Wireless HKT Ltd. in August, borrowing $12 billion from a group of more than 30 banks to finance the acquisition. It paid off $3 billion after three months, and is looking now to almost halve the remaining debt.

Bank of China, HSBC Holdings Plc, Barclays Capital Asia Ltd. and BNP Paribas SA arranged the original $12 billion loan.

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North Asia News
Mon, 06 Nov 2000, 1:17pm HKT
CyberWorks to Appoint Banks This Week to Refinance $9 Bln Loan
By Rob Stewart and Cathy Chan

Hong Kong, Nov. 6 (Bloomberg) -- Pacific Century CyberWorks Ltd. said it will appoint banks this week to arrange a $4.7 billion loan to help repay a $9 billion credit used to fund the firm`s purchase earlier this year of Cable & Wireless HKT Ltd.

Asia`s No. 2 Internet company needs to repay the loan by February otherwise and has been discussing the refinancing with banks the past few months.

``So far, a very positive response has been received from the 10 banks approached by (CyberWorks),`` said Rebecca Leung, senior vice president of the company. ``We will pick up to four banks`` to underwrite the loan by the end of this week, she said.

The banks are likely to ask for interest of less than one percent above the London Interbank Offered Rate -- currently about 6.75 percent -- meaning CyberWorks will pay about $30 million a month in interest charges. Leung said no agreement has been signed yet.

CyberWorks has also secured a $2 billion loan to be borrowed by its 50-50 Internet infrastructure joint venture with Telstra Corp., Leung said. She refused to give the name of the banks and the pricing of the loan.

CyberWorks paid about $28 billion to buy Cable & Wireless HKT Ltd. in August, borrowing $12 billion from a group of more than 30 banks to finance the acquisition. It paid off $3 billion after three months, and is looking now to almost halve the remaining debt.

Bank of China, HSBC Holdings Plc, Barclays Capital Asia Ltd. and BNP Paribas SA arranged the original $12 billion loan.

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10:41 06-NOV-2000
PCCW reported cutting 40-50 Hong Kong staff

The management of Pacific Century CyberWorks (PCCW) (0008-HK) plans to rationalise NOW and the iTV business and to lay off excessive manpower, according to the Hong Kong Economic Times, citing sources.

On October 23, the operation of the NOW production centre in Chai Wan began to wind down, pending a review by the management.

The management is considering a 50 pct cut in the staff in NOW`s UK unit and a reduction of 40 to 50 people in Hong Kong.

The launch of the Chinese version NOW scheduled for next January, has been postponed.

PCCW plans to repackage its iTV service in two-months and aim for the network TV business with an actual open platform WebTV service.

(End)

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Brokerage: DaoHeng Securities Ltd. PCCW (8) BUY
$5.95
Ben Tam

PCCW [8] has secured a US$4.7bn refinancing loan at an average rate of LIBOR + 90-95bp, with maturity between three and seven years. The terms of the deal are better than our estimate of LIBOR + 120-150bp. This removes market concerns on the company`s liquidity. The company paid an interest rate of LIBOR + 115bp for the US$120bn bridge loan for the acquisition of HK Telecom, and is currently still in negotiations regarding a US$2bn syndicated loan for its IP backbone joint venture with Telstra. Since the loan is non-retraceable to the parent, we expect the terms will be less favourable than the refinancing loan.

PCCW is also reviewing its NOW and iTV businesses. Reports suggest that NOW will be suspended until the review has been completed. One of the proposed options is to offer the iTV services via broadband Internet, enabling the services to reach customers outside Hong Kong and accelerate the convergence of iTV with NOW. We believe it will be positive for the company if management slows down the pace of expansion on NOW and focuses on revenue generation of the core business.

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PCCW mit 4,7 Mrd US-$-Kredit

PCCW wird in dieser Woche einen 4,7 Mrd US-$-Kredit von einem Konsortium aus 10 Banken erhalten. Der Kredit wird benötigt um den im Februar auslaufenden Brückenkredit für den Kauf von C&W HK zurückzuzahlen. Der Zins für den Kredit soll weniger als 100 Prozentpunkte über dem London Interbank Zins (LIBOR) liegen. Das ist nach Meinung von Experten ein bißchen höher als der Zins, der Blue Chip Unternehmen angeboten wird. Damit wird PCCW monatlich circa 30 Mill US-$ Zinsen zahlen.
4,1 Mrd US-$ sollen für die Rückzahlung des Kredits verwendet werden, 600.000 US-$ sollen in das laufende Geschäft fließen.

PCCW hat für den Kauf von C&W HK im August einen Kredit von 12 Mrd US-$ von 30 Banken aufgenommen. 3 Mrd US-$ hatte man nach drei Monaten zurückgezahlt. Nun muss man sich um die Finanzierung der restlichen Schulden, die bis Februar fällig sind, kümmern.

-js- 06.11.00 08:32:00
Quelle:Asiainternet.de

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PCRD hat nach Berichten PCI verkauft

Der US-Konzern AIG hat 45 % von Pacific Century Insurance von PCRD erworben. Dies berichtet die "Apple Daily". Der Kaufpreis dürfte nach Marktschätzugen bei etwa 700 Mill HK-$.

Das in Singapore gelistete Unternehmen PCRD möchte seine Beteiligung an dem Versicherer verkaufen, um seinen Focus auf die Technologiebranche zu richten. Das Unternehmen von Richard Li ist die Muttergesellschaft von PCCW. Außerdem benötigt man Geld, um an der Kapitalerhöhung von PCCW teilzunehmen.

-js- 06.11.00 07:41:00
Quelle:Asiainternet.de

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PCCW entlässt Leute bei NOW und iTV

Das Management von PCCW hat beschlossen bei den interaktiven Fersehanstalten NOW und iTV kräftig zu rationalisieren. Dabei will man auch Leute entlassen, wie die Hong Kong Economic Times berichtet. Man plant 50% der Leute in der UK Niederlassung von NOW zu entlassen und 40-50 Leute in Hongkong. Der geplante Start von NOW wurde verschoben (eigentlich im Januar). (jf)

© Emerging Markets Research, 06.11.00
http://www.em-research.de

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AKTIE IM FOKUS: CyberWorks nach günstigerem Tilgungsangebot leicht erholt

06.11.2000 16:01
HONK KONG (dpa-AFX) - Die Aktien der Hongkonger Internetholding Pacific Century CyberWorks haben sich am Montag leicht erholt, nachdem eine günstigere Refinanzierung der insgesamt 4,7 Mrd. USD Außenstände bekannt wurde. Im Gegensatz zum bisherigen Tilgungsangebot sei der Zins nun um 1% niedriger. Der Kurs stieg im späten Hongkonger Handel um 0,134 HKD auf 6,10 HKD. Gleichzeitig konnte auch der Hongkonger Index Hang Seng um 136,09 auf 15.730,21 Punkte zulegen.

CyberWorks habe aus diesem Grunde zugelegt, sagte Edmond Cheung, Technologie-Experte bei Core-Pacific Yamaichi. Allerdings müsse das Unternehmen als Gesamtheit betrachtet werden: Bei den im Projekt "Network of the world" (NOW) zusammengefassten Breitbandaktivitäten solle das Augenmerk stärker auf China, als auf Großbritannien und Hongkong gerichtet werden, sagte Cheung. China verfüge über ein enormes Wachstumspotential.

Skeptisch äußerte sich dagegen Bethany Chan, Analystin bei Warburg Dillon Read. Der Markt habe die Nachricht des günstigeren Tilgungsangebot nicht gerade euphorisch aufgenommen. Die Anleger hätten immer noch Zweifel bezüglich der Zukunft von Pacific Century CyberWorks. Außerdem werde die Nachricht vom möglichen Abbruch des NOW-Projekts in Großbritannien und Hongkong nicht nur positiv aufgenommen./akr/af/mr

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18:29 06-NOV-2000
Li Ka-shing comments on PCCW financial position

Chairman of Cheung Kong (Holdings) (0001-HK) Li Ka-shing has indicated that his son`s telecom flagship ¡V PCCW (0008-HK) ¡V has no problems with its cashflow.

He also stated that the criticism against his family in an European Parliament report was unfounded.
(End)

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06 November 2000 0557 hrs (GMT) 1357 hrs (SST)
CyberWorks to appoint banks to arrange US$4.7b loan

Hong Kong`s Pacific Century CyberWorks says it will appoint banks to arrange a US$4.7 billion loan this week.

This is to help the company repay a US$9 billion credit that was used to purchase Cable and Wireless HKT earlier this year.

CyberWorks, which needs to repay the loan by February next year, has been in discussion with several banks for the past few months.

Senior Vice President of CyberWorks, Rebecca Leung, said the company will pick up to 4 banks out of 10 in the refinancing deal.

The banks are likely to charge a rate of one percent less that is being offered by the London Interbank Offered Rate which is currently about 6.75 percent.

This means CyberWorks is likely to pay US$30 million of interest charges per month.

Besides the current negotiations with banks for the loans, CyberWorks has also secured a US$2 billion loan to be borrowed by its 50-50 Internet infrastructure joint venture with Telstra.

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PCCW findet Kreditgeber, Kaufempfehlung

Wie die South China Morning Post berichtete hat PCCW heute den Deal mit einem Bankenkonsortium abgeschlossen. Die Banken gewähren PCCW einen Kredit von 4.7 Mrd. US-$, welcher nötig ist um die durch die Übernahme von C&W HKT entstandenen Schulden zurückzuzahlen. Der Zinssatz lag erstaunlicherweise nur 90-95 Basispunkte über LIBOR. Noch bei der Übernahme hatte er 115 + LIBOR betragen. Genau diese Tatsache veranlasste Dao Heng dazu eine Kaufempfehlung für das Unternehmen auszusprechen. PCCW habe einen guten Deal abgeschlossen und man sei der Meinung, dass die Befürchtungen der Marktteilnehmer über Liquiditätsprobleme damit erst einmal aus der Welt geschaffen sind. Auch die Restrukturierung von NOW und iTV bewerte man positiv. (jf)

© Emerging Markets Research, 06.11.00
http://www.em-research.de

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10:25 07-NOV-2000
Telstra reported selling 10 pct of mobile JV to SingTel

Telstra and Pacific Century CyberWorks (PCCW) (0008-HK) have formed a mobile phone joint venture with Telstra acquiring the mobile phone business of PCCW, reported Ming Pao.

The acquisition price is about US$2.43 billion (HK$18.95 billion), pushing up the gearing ratio of Telstra further.

There are reports that Telstra is now holding talks with SingTel for the sale of a 10 pct stake in the mobile phone venture to ease the financial burden.

In the meantime, bank circles have doubts if PCCW will be able to secure a 1 pct premium interest rate for its US$4.7 billion refinancing.

As such, they are not prepared to underwrite the debt.

Analysts says only HSBC and Bank of China are considering underwriting the refinancing.
(End)

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11:43 07-NOV-2000
PCCW (0008-HK) broadband adds new services in Singapore

Pacific Century CyberWorks Broadband Network is launching a new line of services in Singapore.

At the same time the company will be investing S$25 million (HK$112 million) over the next three years.

It also said in the announcement that PCCW has more than 160,000 broadband customers in Hong Kong.

(End)

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14:05 07-NOV-2000
Francis Yuen unaware of SingTel interest in Telstra JV

Deputy chairman of PCCW (0008-HK) Francis Yuen said that he was unaware of SingTel`s interest to buy a 9 pct stake in PCCW`s mobile joint venture with Telstra as reported in the media.

On other reports about Pacific Century Regional Development selling Pacific Century Insurance (0065-HK), he did not respond directly on whether the company is holding talks with America`s AIG but said the group is always open to opportunities to acquire or offloading interests.

However, he stressed that Pacific Century Regional Development has no need to offload assets for cash.

On the company`s financing, he said debt raising is progressing well and it has to wait a few weeks for the market response to its US$4.7 billion (HK$36.66 billion) refinancing.

He added that an announcement on the progress of NOW will be made soon.
(End)

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14:50 07-NOV-2000
Telstra seeking mobile phone business partners in Asia

Telstra Corp of Australia said it is keen to forge partnerships with regional mobile phone companies but it would not comment on reports that it is selling a 9 pct stake to Singapore Telecom.

Telstra company spokesperson Steve Wright said the group has spoken to a number of different operators in the Asia Pacific region and talks are continuing.

Other rumours said that Telstra will be bidding for a Singapore 3G licence through the JV with PCCW (0008-HK).

(End

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16:38 07-NOV-2000
iPass provides global distant connection services for PCCW

Global distant connection services provider iPass has partnered with PCCW (0008-HK) to form a strategic alliance and provide global distant value-added solutions for PCCW`s Internet connection services.

Through the co-operation, PCCW could allow its business users over 150 countries to connect with major business centres in the world.

iPass will also strengthen its global distant connection network through PCCW`s new operating points.

(End)

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17:43 07-NOV-2000
PCCW says connectivity services more economical than IDD

PCCW (0008-HK) Global Communication Services president (connectivity services) Roger Barlow said the co-operation with iPass is not exclusive and will be targeted on overseas clients.

He said a further expansion will follow the strengthening of connectivity services in the Singapore, Korea, Thailand and Malaysia markets.

The services are expected to cost 40 to 60 pct less than traditional IDD service rates.

As such, he believes the customer base will grow rapidly.

When asked why the service was not launched in Hong Kong first, he said that Netvigator and iPass are already working on a co-operative project which will be released in future.

(End)

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Suchen Telstra und PCCW weitere Partner?

Telstra sucht weitere regionale Partner für sein Mobilfunk-Joint Venture mit PCCW in Asien. So kursiert das Gerücht, dass man einen Anteil von 10 % an Singapore Telecom verkaufen will. Ein Sprecher von Telstra kommentierte dieses Gerüchte nicht. Er sagte nur, dass man mit einer Anzahl verschiedener Operatoren gesprochen habe und die Gespräche noch andauern. Auch Singapore Telecom sagte nichts. Yuen, Chairman von PCCW, würde einen neuen Partnern bei dem Joint Venture begrüßen.

Andere Gerüchte besagen, dass Telstra sich über das Mobilfunk-Joint Venture mit PCCW um eine UMTS-Lizenz in Singapore bemühen möchte.

PCCW haben erst vor kurzem die Verhandlungen über ihr Mobilfunk-Joint Venture abgeschlossen. Telstra hält 60 und PCCW die restlichen 40 % an dem Joint Venture.

-js- 07.11.00 08:43:00

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PCCW admits to failure of TV plan
Staff reporters, Hong Kong iMail

PACIFIC Century CyberWorks (PCCW) (0008) has conceded the business plan for ailing broadband TV subsidiary Network of the World (NOW) has been a failure.
It is planning to overhaul NOW which will involve some staff cuts, according to a PCCW insider. The flagship arm of Richard Li Tzar-kai`s troubled CyberWorks is conducting an extensive operational review.
``Nothing is finalised,`` the insider said adding that in three weeks the report would detail extensive restructuring within NOW. The company employs 700 TV production crew in London and Chai Wan.
The source said NOW would ``modulate expenditure between our London-based and Asia-based operations`` to reduce its mounting debts.
NOW`s core areas will remain China, Japan and the Indian markets while revenues will come from advertising, distribution fees from cable operators who run the service, and e-commerce. NOW also intends to reduce its capital expenditure costs.
It has already burnt a US$300 million (HK$2.34 billion) hole in PCCW`s balance sheet and has yet to produce substantial revenues. PCCW pledged US$700 million to produce its English and Chinese-language programming and broadcast it over the Internet.
UBS Warburg predicts NOW will lose US$1.6 billion (HK$12.4 billion) in the four years to 2003.
The number of viewers it attracts is a close-kept secret. But limited by fledgling broadband penetration, regular watchers are likely to be numbered in thousands not millions. It carries very few advertisements.
Worldsec International forecast it would make $180 million from advertising, $240 million from subscriptions and $540 million from e-commerce in 2001.
The atmosphere at NOW`s Chai Wan offices was grim yesterday as staff told iBusiness they still expected swinging cuts.
Insiders said PCCW ordered a budget hiring freeze for all departments bar software development.
``We expect downsizing in Hong Kong and London,`` one employee said. ``But it might not be a one-off blow. They may sack people in small numbers.``
NOW`s plans to open a New York studio are also threatened.
Jonathan Iu, an Internet analyst at SG Securities said that it was sensible for PCCW to shift operations from costly UK and Hong Kong sites to the mainland.
Worldsec International`s analyst Chris Cheung said that the cost-cutting would be positive for the company as it could improve NOW`s efficiency. PCCW said last week it would reduce its spending on NOW, to expand the Interactive TV business via partnerships with technology companies.
PCCW closed at $6.0 yesterday down from a high of $28.50 in February. Its share price has been rocked by a combination of the global collapse in sentiment for telecoms stocks, the collapse of two key deals, concern over its high level of debt, and worries over the viability of Network of the World.
Recently, PCCW cut its debt and yesterday announced the reschedulling of US$4.7 billion at more favourable rates.
``We`re going to be more cautious because of market conditions,`` chief operating officer Alex Arena told analysts recently.
PCCW has partnership deals with Legend Holdings (0992), ERA Communications, TransWorld International, Telstra and Tomen MediaCom.
7 November 2000 / 02:30 AM

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PCCW alliiert sich mit iPass

PCCW gab heute eine strategische Allianz mit iPass bekannt. Man wird PCCWs Geschäftskunden globale Internetzugangsdienste anbieten. Den betroffenen Kunden ist es dann möglich den neuen Dienst in über 150 Ländern zu benutzen.

Angeboten wird der Dienst zuerst in Singapur, Korea, Thailand und Malaysia. (fs)

© Emerging Markets Research, 07.11.00
http://www.em-research.de

Beteiligt sich Singtel an PCCW/Telstra JV?

Laut einem Bericht der Ming Pao Zeitung ist Telstra in Verhandlungen mit Singtel. Das Unternehmen Singtel ist ein großer Konkurrent von PCCW und der ehemaligen C&W HKT und will verlorene Marktanteile in Hongkong gewinnen. Laut den Berichten will sich das Unternehmen mit 10% an dem Jointventure zwischen Telstra und PCCW beteiligen. (fs)


PCCW wird Breitbanddienste in Singapur entwickeln
Pacific Century CyberWorks Breitbandnetz gründet heute umfassende Dienste in Singapur. Für die Entwicklung von Breitbanddiensten im Geschäftsbereich wird das Unternehmen innerhalb der nächsten drei Jahre 25 Mio. S$ ausgeben. (fs)



PCRG steigt nach Telstra-Singtel Gerüchten

Wegen den aufkommenden Gerüchten, dass Singtel einen 10%-Anteil an dem Mobilfunk-JV zwischen PCCW und Telstra erhalten könnte ist Pacific Century Regional Development am Anfang des Handelstages gestiegen. Man hofft, dass dadurch die Schulden von der Tochter PCCW gedrückt werden könnten. (fs)



Singtel kaum Entscheidungseinfluss auf PCCW/Telstra JV

PCCW wurde heute immer um den Vortageskurs von 6 HK$ gehandelt. Damit hat das Unternehmen kaum auf die Gerüchte, dass Singtel einen 10% Anteil des Jointventures mit Telstra erwerben könnte, reagiert. Händler sind der Meinung, dass PCCWs Konkurrent Singtel durch den 10% Anteil kaum Einfluss auf das Entscheidungsverhalten des Jointventures haben wird. (fs)



PCCW: Telstra kommentiert Singtel-Gerüchte nicht

Die Gerüchte, dass Telstra einen 10%-Anteil vom Mobilfunkjointventure mit PCCW an Singtel verkaufen könnte, werden von Telstra nicht kommentiert. Das Management gibt an, dass es nichts gibt, was die Berichte bestätigt und man selber wenig davon mitbekommen hat. (fs)

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Cyberworks arm, Sega in online games venture
Staff reporter, Hong Kong iMail

ILINK.NET , a
PCCW subsidiary, will provide video games via the Internet in a joint
venture with Sega.com (1196) Asia. Sega.com Asia, a unit of Japanese Sega Enterprises, will develop online interactive games through iLink`s Internet infrastructure in Hong Kong, the companies said. Sega.com Asia said the launch schedule for its Internet game in Hong Kong would be delayed until January.``We want to perfect the network before it is launched to the public,``said Sega.com Asia executive director Brian Lui.

The partnership will last for three years, and at least three games will be available over the Internet after the launch. Sega.com Asia said it would spend more than $10 million a year on marketing the Internet video game services, but no further financial details were disclosed.

About 75 per cent of income would come from Internet services, 10 per cent from charges on special gaming tournaments, and 10 per cent from e-commerce and advertising.

Sega Enterprises last month said it expected a full year loss and announced a change in the company`s focus to Internet video games. Sega.com Asia business development vice-president Winn Hong said the company expected between 50,000 to 80,000 subscribers for its Internet services in the first year, which would be enough to make a profit.

Sega`s Internet United States game service had 140,000 subscribers and 400,000 registered users. Mr Hong expected 30 per cent of Hong Kong`s 150,000 Sega Dreamcast console owners would subscribe.
7 November 2000 / 02:28 AM

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PCCW startet Breitband-Service in Singapore

PCCW gab heute den Start einer Reihe von Breitband-Services in Singapore bekannt. In den nächsten drei Jahren plant man hier 112 Mill HK-$ zu investieren.

Am Rande der Eröffnung sagte das Unternehmen von Richard Li, dass man in Hongkong 160.000 Breitband-Kunden habe und monatlich etwa 15.000 hinzukommen.

PCCW startete im Frühsommer seinen englischen Breitband-Content-Service NOW. Doch die Zahlen ließen bisher zu wünschen übrig, so dass sich PCCW gezwungen sah seine Investitionen hier zurückzuschrauben.

-js- 07.11.00 08:55:00

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iLink mit Online-Spiele-Joint Venture mit Sega.com

Der Daten-Center-Operator iLink, der zu 41 % zu PCCW gehört, und Sega.com Asia, eine Einheit der japanischen Sega, sind eine Online-Spiele-Joint Venture eingegangen. Dies bestätigte der Director von Sega.com.

Sega.com werde Online-Spiele entwickeln, die dann über die Internet-Infrastruktur von iLink vertrieben werden. Die Partnerschaft ist erst mal auf drei Jahre angelegt. Sega.com wird mehr als 10 Mill HK-$ pro Jahr in das Marketing für die Internet-Spiele stecken.

-js- 07.11.00 09:01:00

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PCCW und iPass kooperieren

PCCW ist eine Allianz mit dem amerikanischen Unternehmen iPass eingegangen. iPass wird seine global remoate access-Lösungen zum Dial-Up-Service von PCCW hinzufügen. Damit kann PCCW seinen Geschäftskunden globale Zugangsdienste in 150 Ländern anbieten.

PCCW erwartet, dass der neue Service 40 bis 60 % günstiger ist als IDD. Gestartet soll der Service zuerst in Singapore, Korea, Thailand und Malaysia.

-js- 07.11.00 13:41:00

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10:03 08-NOV-2000
PCCW (0008-HK) seeks buyers for C&W`s PCCW stake

Pacific Century CyberWorks Limited (PCCW) is seeking strategic investors to take up the 15 pct stake in PCCW held by Cable & Wireless, according to the Hong Kong Economic Times.

It reported that PCCW has appointed Salomon Smith Barney and Chase JF to hold talks with several European and American telecommunications companies.

Sources close to the investment bankers expect an agreement to be reached by year-end.

Linus Cheung, vice chairman of PCCW, stated that principal job for the company is to seek strategic investors and he has visited New York three times in the past few weeks.

PCCW has approached such well-known telecommunications companies as Owest, Verizon and WorldCom but no agreements have been reached.

Cable & Wireless currently holds a 15 pct stake in PCCW with a value of $19.5 billion.

Half could be disposed in February of 2001 and the remaining 50 pct can be sold six months after the first disposal.

Sources also said that Salomon and Chase JF have also been appointed to seek strategic investors for PCCW.

As such their parents Citibank Corporation and Chase Manhattan Bank may be put in charge of the US$4.7 billion (HK$36.66 billion) financing for PCCW.

(End)

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11:29 08-NOV-2000
PCCW (0008-HK) reported interest in MobileOne stake

The joint venture formed by Pacific Century CyberWorks and Australia`s Telstra is now seeking for a controlling stake in Singapore`s mobile operator, MobileOne, reported SCMPost.

The joint venture intends to issue new shares to the shareholders of MobileOne to acquire the stake.

It plans to acquire at least a 30 pct stake and expects to complete the acquisition by the beginning of 2001.

A lot, however, depends on discussions with Keppel Corp which holds 35 pct of MobileOne.

Singapore Press Holdings also holds a 35 pct stake in the company.

PCCW and Cable & Wireless each own 15 pct in MobileOne.

Spokesperson for PCCW declined to comment if the group intends to inject MobileOne into the joint venture.

(End)

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11:48 08-NOV-2000
Alexander Arena: PCCW talks on MobileOne in early stage

It was reported that PCCW (0008-HK) plans to acquire a controlling stake in Singapore`s mobile phone company MobileOne and the talks are continuing.

Alexander Arena, deputy chairman of executive committee of PCCW, said that the talks are in the preliminary stage and details have not been discussed by both parties.

Currently PCCW holds 15 pct of MobileOne.

(End)

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11:59 08-NOV-2000
PCCW (0008-HK) declines comment on C&W-held shares

It was reported today that Pacific Century CyberWorks is seeking strategic partners in Europe and the US to acquire the PCCW stake held by the major shareholder, Cable & Wireless.

The deputy chairman of executive committee of PCCW, Alexander Arena, declined to comment on the market speculation.
(End)

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12:11 08-NOV-2000
Alexander Arena expects PCCW rights issue to go smoothly

Pacific Century CyberWorks (PCCW) (0008-HK) executive committee vice-chairman Alexander Arena believes that the proposed rights issue will be completed without a hitch as chairman Richard Li will be the underwriter.

The results of the proposed rights issue will be announced later this month.

With regard to the US$4.7 billion (HK$36.66 billion) refinancing arrangement, Mr Arena said that the company is holding talks with several major bankers and expects to see a result after a few weeks.

(End)

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14:04 08-NOV-2000
Linus Cheung: Telstra`s JV disposal needs PCCWs approval

Vice-chairman Linus Cheung of Pacific Century CyberWorks (PCCW) (0008-HK) said that it is acceptable for PCCW to hold a 40 pct stake in the mobile phone joint venture with Australia`s Telstra and no changes are necessary.

Mr Cheung stressed that any proposed disposal of certain stake by Telstra is subject to the approval of PCCW.

He added that the business of PCCW will diversify globally and thus co-operation in various forms are possible in the future and the one with Telstra is only one of the alternatives.

He pointed out that fundraising activities are signs of healthy growth for a company.
(End)

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14:34 08-NOV-2000
PCCW, Telstra JV to develop Asian-Pacific market

Norman Yuen, deputy chief executive officer of Pacific Century CyberWorks (PCCW) (0008-HK) said that the joint venture between the company and Telstra has a goal to develop mobile phone business in the Asian-Pacific region.

He said both parties are very interested in making investments in Singapore and have been in talks with various parties there.

PCCW now holds a 30 pct stake in MobileOne through HKT and Cable & Wireless plc.

He added that the group is undergoing a comprehensive study on the positioning of its iTV, NOW and pay-TV projects, based on market demand.

He reiterated the group`s US$4.7 billion (HK$36.66 billion) refinancing is under negotiation.
(End)

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14:34 08-NOV-2000
PCCW, Telstra JV to develop Asian-Pacific market

Norman Yuen, deputy chief executive officer of Pacific Century CyberWorks (PCCW) (0008-HK) said that the joint venture between the company and Telstra has a goal to develop mobile phone business in the Asian-Pacific region.

He said both parties are very interested in making investments in Singapore and have been in talks with various parties there.

PCCW now holds a 30 pct stake in MobileOne through HKT and Cable & Wireless plc.

He added that the group is undergoing a comprehensive study on the positioning of its iTV, NOW and pay-TV projects, based on market demand.

He reiterated the group`s US$4.7 billion (HK$36.66 billion) refinancing is under negotiation.
(End)

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8 Nov 2000
Telstra denies talk of mobile stake sale to SingTel

Analysts say 9% stake given in report is too small to interest SingTel

By Teh Hooi Ling in Singapore and Audrey Tan in Hongkong

AUSTRALIA`S Telstra Corp yesterday denied it is in talks to sell Singapore Telecom a 9 per cent stake in the mobile phone company which it jointly owns with Richard Li`s Pacific Century CyberWorks.

Hongkong`s Ming Pao Daily yesterday reported that Telstra is negotiating with SingTel on the sale, citing unidentified sources.

"There`s no truth in the report," Trevor Dalziel, Telstra`s spokesman said.

Asked if Telstra is in discussion with SingTel on any cooperation at the moment, Mr Dalziel said: "No, not that I know of." Yesterday, SingTel declined to comment on what it described as rumours.

Meanwhile in Hongkong, CyberWorks` deputy chairman Francis Yuen said his company will consider adding more partners to its mobile phone joint venture with Telstra.

The venture does not rule out any possible partners, including SingTel, he said. But he declined to comment on reports that Telstra may sell a 9 per cent stake to SingTel.

Similarly, Telstra spokesman Mr Dalziel said: "I think both partners made it very clear right from the start that we were prepared to invite other partners into the alliance."

He added: "But we are not in talks with SingTel now, we are not in talks with anybody. The deal (for the regional mobile venture) hasn`t even been finalised. I think it`s a little premature to talk about selling a company we don`t yet own." Telstra will hold a 60 per cent stake in the regional mobile venture with CyberWorks having the remaining shares.

Mr Dalziel also denied rumours in Hongkong yesterday that Telstra may bid for a 3G licence in Singapore. "We will not bid on our own right," said Mr Dalziel.

"But there is the possibility that in future, we may be involved with M1 (MobileOne), and M1 could bid for a 3G licence. But that`s not for us to comment at this stage."

Telstra and CyberWorks are said to be keen on including M1, in which CyberWorks has a 15 per cent stake, into their regional mobile joint venture. CyberWorks became part owner of M1 after it acquired C&W HKT and it is still in talks with Cable & Wireless plc to buy over C&W`s remaining 15 per cent stake in M1.

But before C&W can sell its M1 stake to any party, it must first offer it to the other two shareholders -- Keppel Telecommunications and Transportation and Singapore Press Holdings -- which have first right of refusal.

Yesterday analysts doubted the credibility of the Ming Pao report, noting that a 9 per cent stake is too small for SingTel`s liking.

SingTel usually seeks at least a 20 per cent stake in any of its investments in order to exert some influence over management, they added.

Others said it is unlikely SingTel would invest in a company in which CyberWorks holds a stake after their high-profile tussle over C&W HKT earlier this year.

SingTel`s shares slid one cent yesterday to $2.74. The stock is down some 24 per cent this year.

[Kersken]

Singapore 07/11 10:38 AM :
SingTel to take 9% stake in Telstra/PCCW mobile venture?

The newswires have reported that SingTel is in talks with Telstra to buy a 9% stake in the latter`s 60% owned mobile phone operations, of which a 40% stake is held by PCCW. If the deal goes through, Telstra will still hold a 51% stake in the mobile phone JV.

We think that this is highly possible. Telstra needs the cash to lower its debt position. SingTel is also known to be on the lookout for acquisitions to beef up its regional presence. SingTel should have no problems forking out the cash needed for the transaction (estimated to be around S$252m). The deal would be a boost to SingTel`s plans to establish a Pan Asian wireless franchise.

Implication on SingTel`s share price:

The deal will not have an immediate impact on its bottom line, but it will be positive for sentiment on the stock as:

1) SingTel is putting its cash pile to good use.
2) SingTel will be seen as pro-active in seeking out investment opportunities/taking steps to diversify out of its home-market.

The stock was sold down yesterday on MSCI concerns. This has proved to be unfounded and we would expect to see a rebound in its share price soon. Our near-term target price is 3.12. BUY.

(by han)

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North Asia News
Wed, 08 Nov 2000, 1:45pm HKT
CyberWorks Rises on Share Disentanglement From Cable & Wireless
By Joshua Fellman

Hong Kong, Nov. 8 (Bloomberg) -- Pacific Century CyberWorks Ltd. rose after it said its venture with Telstra Corp. may increase its stake in Singapore`s No. 2 mobile phone company and that it hired bankers to help Cable & Wireless Plc sell its remaining CyberWorks shares.

CyberWorks, Asia`s No. 2 Internet company and Hong Kong`s largest phone company, climbed as much as 6.6 percent to HK$6.50. The stock has lost 64 percent of its value this year. It recently traded at HK$6.45.

The transactions would help disentangle CyberWorks` shares and operations from those of Cable & Wireless, which sold its Cable & Wireless HKT Ltd. unit to CyberWorks earlier this year, and which owns 15 percent of CyberWorks` stock.

``The key for share price movement (in CyberWorks) is news about Cable & Wireless, which has been an overhang on the stock,`` said Jahanzeb Naseer, an analyst at ABN Amro Holdings NV in Hong Kong.

In Singapore, CyberWorks owns a 30 percent stake in cellular phone operator MobileOne (Asia) Pte. in a 50-50 joint venture with Cable & Wireless Plc, which wants to sell its stake. Alex Arena, CyberWorks` deputy chairman, said the company`s mobile venture with Telstra wants to increase its stake in M1.

Arena denied a report in the South China Morning Post that the venture will sell new shares to finance the acquisition or may buy control of M1 through a share swap with Keppel Telecommunications & Transportation Ltd., which owns 35 percent.

``No decision has been taken. The possibility of selling shares may have been raised at the working level,`` Arena said. ``There are actually many shareholders involved: Cable & Wireless, Keppel and Singapore Press Holdings.``

Arena also declined to comment on a Hong Kong Economic Times report that CyberWorks hired Salomon Smith Barney Inc. and Chase Manhattan Corp. to find buyers for the 15 percent of CyberWorks now held by Cable & Wireless.

``We have an open door policy, and the bankers have a lot of interesting ideas,`` Arena said. ``Those bankers are talking to us on a number of possibilities of how we might form strategic alliances with a number of different parties.``

Cable & Wireless, the U.K.`s No. 2 phone company, raised as much as HK$10.4 billion ($1.3 billion) through the sale of 4.9 percent of CyberWorks in September. The company can sell about 7.1 percent more at end of February and its remaining stake by the end of August 2001.

The three banks couldn`t be reached for comment on the report.

[Kersken]

PCCW sucht Investoren: Worldcom, Qwest, Verizon

PCCW hat Salomon Smith Barney und die Chase Manhatten beauftragt einen Käufer für die 15 % PCCW-Aktien, die noch von C&W gehalten werden, zu finden. Dies berichtet die "Hong Kong Economic Times" heute.

Weiter berichtet das Blatt, dass PCCW bereits selbst mit mehreren europäischen und amerikanischen Telekommunikationsunternehmen gesprochen hat. Zu diesen Firmen gehören unter anderem Qwest Communications International, Verizon Communications und Worldcom. Auch UBS Warburg hat schon mit potentiellen Investoren verhandelt.

PCCW will für den Anteil, den C&W hält, einen oder mehr Investoren finden. Dies sagte der Deputy Chairman des Unternehmens Linus Cheung.

Durch die Übernahme von C&W HK durch PCCW hatte C&W einen Aktien-Pakte von etwa 21 % bekommen. Einen kleinen Teil der Papiere gab das Unternehmen schon an CMGI ab. Weitere 4,9 % wurden im September für 1,3 Mrd US-$ an der Börse verkauft. Nach dem Verkauf hält man nun noch 15 % an PCCW. C&W möchte diesen Anteil unbedingt verkaufen. Dies hatte das Unternehmen schon mehrfach bekannt gegeben.

-js- 08.11.00 06:42:00

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PCCW/Telstra wollen Mehrheit bei MobileOne

Das Mobilfunk-Joint Venture von PCCW und Telstra will einen Mehrheitsanteil an dem Singaporer Mobilfunkunternehmen MobileOne (M1) übernehmen. Dies berichten Zeitungen heute. PCCW/ Telstra möchten dazu neue Aktien ausgeben, um Aktien des Singaporer Unternehmens zu erwerben. Außerdem wird PCCW seine 15 %, die man schon an MobileOne hält, in das Joint Venture mit einbringen.

Alexander Arena, Deputy Chairman von PCCW, bestätigt die Gespräche über einen Zukauf bei MobileOne, sagte aber auch, dass man sich erst in einem Vorstadium bei den Verhandlungen befinde.

MobileOne wird mit seinen 600.000 Kunden auf einen Wert von etwa 1,4 Mrd US-$ geschätzt. 35 % des Unternehmens werden jeweils von Keppel und der Singapore Press Holding gehalten. Jeweils 15 % halten C&W und PCCW.

-js- 08.11.00 07:08:00

[Kersken]

Alexander Arena schätzt Kapitalerhöhung PCCWs als unproblematisch ein

Alexander Arena von Pacific Century Cyberworks schätzt die anstehende Kapitalerhöhung als unproblematisch ein. Als Grund hierfür nannte er die Tatsache, dass sich Richard Li persönlich daran teilnimmt. Das Resultat wird Ende diesen Monats bekanntgegeben werden.

Unterdessen kamen erneut Gerüchte auf, dass PCCW in Europa und den USA nach Investoren für die Übernahme der C&W Anteile an PCCW sucht (siehe News). Arena wollte hierzu keinen Kommentar abgeben. (jf)

© Emerging Markets Research, 08.11.00
http://www.em-research.de

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14:57 08-NOV-2000
Francis Yuen: No comment on rumoured sell-off by Telstra

The deputy chairman of PCCW (0008-HK), Francis Yuen declined to comment on market rumours that Telstra is planning to divest the stake in the telecom joint venture formed with PCCW.

Mr Yuen revealed that PCCW has a fine working relationship with Telstra and there is good synergy between the two groups.

He also declined to comment on the rumour that PCCW is planning to buy back its shares held by its major shareholder, Cable & Wireless by inviting strategic partners.

Regarding the rights issue of PCCW, he said that shareholders can decide to accept the right shares or not based on market sentiments.

It is too early for some major shareholders to say they will not accept the rights issue.

He said that an underwriter has been arranged for the rights issue he expects it will be launched successfully.

(End)

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Die Kurse heute in Hong Kong
Bid Ask
6.400 6.450
Last 6.450
Change 0.350
PCCW +5.74 %

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Hier der ganze Pressebericht von PCCW

Pacific Century CyberWorks Launches Service-Focused Broadband Network in Singapore

PCCW Broadband Network to offer companies 500 free-trial service packages, 24-hour customer technical support

Singapore, November 7, 2000 - Pacific Century CyberWorks (PCCW) Broadband Network today launched a comprehensive line of services in Singapore, with plans to invest at least S$25 million over three years to become the city`s business broadband service partner of choice.

PCCW Broadband Network is focused on providing reliable, hassle-free, efficient and cost-effective high-speed Internet connections for corporate users, reinforced by being Singapore`s first broadband service provider (deploying ADSL technology) to provide 24-hour, seven-day customer technical support.

Other PCCW broadband service offerings include Internet access at a dedicated speed of 512 Kbps, ADSL modem and installation; Internet services such as web page storage, secure email; and business application bundles.

"Pacific Century CyberWorks is committed to being the broadband partner of choice everywhere," said David Phua, CEO of PCCW Broadband Network. "With the government here solidly behind broadband expansion, coupled with IDA forecasts of strong broadband growth of 1.2 million users here by 2003, we see a compelling opportunity to market our services here in Singapore."

Mr. Phua said PCCW would leverage its broadband expertise to offer unmatched service and value to all businesses, with particular emphasis on small and medium-sized enterprises.

"This is just a start. PCCW Broadband Network`s long-term goal is to set the definitive service standards for broadband in the Asia Pacific region," he said, adding that via its Netvigator Internet service provider, PCCW already serves more than 160,000 broadband customers in Hong Kong. In recent months, Netvigator`s broadband usage has increased at a rate of more than 15,000 Hong Kong customers per month.

Tailored to meet the budgets of companies of all sizes, PCCW Broadband Network`s service package comes in two plans: S$108 for 60-hour and S$338 for 200-hour usage. Among the broadband service providers, such as Magix, SingNet and PacNet, which run on ADSL, PCCW Broadband Network offers the best value package in the market now.

Companies will receive a free PCCW Broadband Network trial package when they sign up before 31 December 2000. This includes unlimited broadband access, Creative`s Broadband Blaster DSL modem and on-site installation.

Companies can register at www.cyberworks.net.sg today.

About Pacific Century CyberWorks Broadband Network

Incorporated in December 1999, Cable & Wireless Network Services (Singapore) Pte. Ltd. (PCCW Singapore) set up a broadband division in July 2000 now called PCCW Broadband Network.

Focused on delivering the ultimate broadband-experience amongst its Singapore business community customers, PCCW Broadband Network provides reliable, efficient and cost-effective high-speed Internet connections for quality conscious corporate users. Its broadband service offerings include Internet access at a dedicated speed of 512 Kbps, ADSL modem and installation; Internet services such as web page storage, secure email; and business application bundles. For more info, visit www.cyberworks.net.sg.

About Pacific Century CyberWorks (PCCW)

Pacific Century CyberWorks is the Hong Kong-listed technology flagship of the Pacific Century Group. PCCW is one the largest Internet companies in the world by market capitalization.

Focused on global growth, PCCW is developing a full spectrum of broadband Internet capabilities, and is aiming to become the premiere provider of telecommunications, digital technology and new media services. With the August 2000 Cable & Wireless HKT merger, the Company has developed an innovative 8 X 3 business model that runs eight business units within three operating sectors:

Telecommunications Services - Includes PCCW-HKT. Principally comprising telecommunications and other value-added services based on the Company`s fibre-optic network in Hong Kong.
Global Communications Services - Mobility and global connectivity services.
Net Enterprises - NOW, B2B business services, Data Center services and CyberWorks Ventures, which invests in synergistic core businesses.
Infrastructure Services directly supports all three sectors. To learn more about Pacific Century CyberWorks, go to www.pcg-group.com.

Contacts:
Ms. Diana Tsui
Senior Manager, Business Development
PCCW Broadband Network
Tel: [phone]
Fax: [phone]
Email: [e-mail]

Ms. Koh Li Li
Public Relations Consultant
Asia PR. Comz Pte Ltd
Tel: [phone]
Fax: [phone]
Email: [e-mail]

[Dos Players]

WKN
924882
Name
Pac Cent Cyber
BID
.92 EUR
ASK
.98 EUR
Zeit
2000-11-08 09:00:28 Uhr

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PCCW von Meldungen beflügelt, + 6,6 %

Die heutigen Meldungen bei PCCW beflügelten die Käufer. Auf der einen Seite soll das Mobilfunk Venture mit Telstra einen Mehrheitsanteil an dem Singapurer Mobilfunkunternehmen MobileOne (M1) übernehmen. Auf der anderen Seite hat PCCW Salomon Smith Barney und die Chase Manhatten Bank beauftragt einen Käufer für die 15 % PCCW-Aktien, die noch von C&W gehalten werden, zu finden. Beides soll den Kurs des Unternehmens positiv beeinflussen.

Auf die Meldungen konnte PCCW 6,6 % auf 6,50 HK-$ zulegen, notiert derzeit mit einem Plus von 4,92 % auf 6,40 HK-$.

Die Händler werteten als besonders positiv, dass die Transaktionen helfen sollen, die Geschäftsbereiche von PCCW und C&W HKT zu entflechten. Jahanzeb Naseer, Analyst von ABN Amro Holdings NV in Hong Kong, spricht davon, dass die Schlüsselmeldungen für Aktienbewegungen bei PCCW derzeit von C&W HKT kommen müssten, die das größte Aktienpaket halten. Aus diesem Grund nur habe der Aktienkurs in den vergangenen Monaten 65 % an Wert verloren und deshalb konnte PCCW auch nicht auf seine eigenen Meldungen reagieren. Erst ein Abbauen dieser Überinvestition von C&W HKT könnte es PCCW ermöglichen, wieder aus eigener Kraft Auftrieb zu gewinnen.

-fjs- 08.11.00 09:07:00

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PCCW und Chase JF mit Online Broking Joint Venture

Pacific Century Cyberworks Ltd. und Chase JF haben ein Online Broking Zentrum eröffnet. Ziel ist eine massive Expansion in Erwartung allgemein steigenden Interesses am Wertpapierhandel in Hong Kong, nachdem Hong Kong Stock Exchange jetzt ein neues elektronisches Handelssystem eingeführt hatte.

Beide Gesellschaften wollen 34 Mio US-$ in das 50-50 Joint Venture mit dem Titel 2cube Securities Ltd. investieren. Mit dem neuen Handelssystem von Hong Kong Exchanges and Clearing Ltd., welches AMS/3 genannt wird, ist es den Investoren jetzt möglich, mit PCs oder Mobiltelefonen die Aktien direkt über das Internet an der Börse zu handeln. Der Konkurrenzdruck auf PCCW und Chase JF, also das Joint Venture 2Cube wird allerdings groß werden. Insgesamt 40 Online Broker, so auch von HSBC Holdings u.a. sollen im Zuge des neuen Handelssystems in den kommenden Wochen an den Markt streben.

-fjs- 08.11.00 09:32:00

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PCCW gründet Online-Broker

PCCW hat heute bekanntgegeben, dass man mit Chase JF ein 50/50 Joint Venture gegründet hat, welches auf dem Online-Broker Markt tätig ist. Investiert wurde in dieses Projekt zunächst 34 Mio. US-$. Man will so von dem steigendem Interesse an der Hongkonger und anderen Börsen profitieren und hofft in zwei Jahren einer der drei größten Online-Broker im wichtigsten Markt, nämlich Hongkong zu werden. (jf)

© Emerging Markets Research, 08.11.00
http://www.em-research.de

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PCCW: Cyberport ist zu klein

Aktuell haben 160 Unternehmen Büroflächen in Pacific Centurys Cyberport beantragt. Die bestellte Gesamtfläche hat 1 Mio. Quadratmeter bereits überschritten. Sogar wenn, wie bereits geplant, weitere 210 Tsd. Quadratmeter Wohnfläche in Bürofläche umgewandelt wird, so reicht der Platz noch immer nicht aus. Aus diesem Grund prüft die Regierung gerade weitere Möglichkeiten um die Büroflächen erneut zu vergrößern. (jf)

© Emerging Markets Research, 08.11.00
http://www.em-research.de

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PCCW und Chase JF mit Online Broking Joint Venture

Pacific Century Cyberworks Ltd. und Chase JF haben ein Online Broking Zentrum eröffnet. Ziel ist eine massive Expansion in Erwartung allgemein steigenden Interesses am Wertpapierhandel in Hong Kong, nachdem Hong Kong Stock Exchange jetzt ein neues elektronisches Handelssystem eingeführt hatte.

Beide Gesellschaften wollen 34 Mio US-$ in das 50-50 Joint Venture mit dem Titel 2cube Securities Ltd. investieren. Mit dem neuen Handelssystem von Hong Kong Exchanges and Clearing Ltd., welches AMS/3 genannt wird, ist es den Investoren jetzt möglich, mit PCs oder Mobiltelefonen die Aktien direkt über das Internet an der Börse zu handeln. Der Konkurrenzdruck auf PCCW und Chase JF, also das Joint Venture 2Cube wird allerdings groß werden. Insgesamt 40 Online Broker, so auch von HSBC Holdings u.a. sollen im Zuge des neuen Handelssystems in den kommenden Wochen an den Markt streben.

-fjs- 08.11.00 09:32:00 / Asiainternet.de

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13:55 09-NOV-2000
PCCW: PCRD not selling Pacific Century Ins stake

Spokesman for PCCW (0008-HK) Joan Wagner today said that there were companies interested in Pacific Century Ins (0065-HK).

However its parent Pacific Century Regional Development Ltd (PCRD) currently has no intention to dispose of its 44.8 pct stake in Pacific Century Insurance.

(End)

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CyberWorks says "no decision has been taken" on share swap for M1 stake
By Bloomberg, Singapore.CNET.com
Wednesday, November 8 2000

HONG KONG--Pacific Century CyberWorks Ltd rose after it said its venture with Telstra Corp may increase its stake in Singapore`s No. 2 mobile phone company and that it hired bankers to help Cable & Wireless Plc sell its remaining CyberWorks shares.
CyberWorks, Asia`s No. 2 Internet company and Hong Kong`s largest phone company, climbed as much as 6.6 percent to HK$6.50. The stock has lost 65 percent of its value this year. It recently traded at HK$6.40.

The transactions would help disentangle CyberWorks` shares and operations from those of Cable & Wireless, which sold its Cable & Wireless HKT Ltd. unit to CyberWorks earlier this year, and which owns 15 percent of CyberWorks` stock.

"The key for share price movement (in CyberWorks) is news about Cable & Wireless, which has been an overhang on the stock," said Jahanzeb Naseer, an analyst at ABN Amro Holdings NV in Hong Kong.

In Singapore, CyberWorks owns a 30 percent stake in cellular phone operator MobileOne (Asia) Pte Ltd in a 50-50 joint venture with Cable & Wireless, which wants to sell its stake. Alex Arena, CyberWorks` deputy chairman, said the company`s mobile venture with Telstra wants to increase its stake in M1.

Arena denied a report in the South China Morning Post that the venture will sell new shares to finance the acquisition or may buy control of M1 through a share swap with Keppel Telecommunications & Transportation Ltd, which owns 35 percent.

"No decision has been taken. The possibility of selling shares may have been raised at the working level," Arena said. "There are actually many shareholders involved: Cable & Wireless, Keppel and Singapore Press Holdings."

Bankers hired

Salomon Smith Barney Inc and Chase Manhattan Corp said CyberWorks hired them to find buyers for the 15 percent of CyberWorks now held by Cable & Wireless.

"We can confirm we were engaged by PCCW," said Mei Zhang, a spokeswoman for Salomon. A Chase banker, who declined to be named, also said his bank had been appointed.

CyberWorks has talked to European and US telecom companies including Qwest Communications International Inc, Verizon Communications and WorldCom Inc, the Hong Kong Economic Times reported this morning.

Arena declined to confirm the appointments. "We have an open door policy, and the bankers have a lot of interesting ideas," he said. "Those bankers are talking to us on a number of possibilities of how we might form strategic alliances with a number of different parties."

Cable & Wireless, the UK`s No. 2 phone company, raised as much as HK$10.4 billion (US$1.3 billion) through the sale of 4.9 percent of CyberWorks in September. The company can sell about 7.1 percent more at end of February and its remaining stake by the end of August 2001.

The three banks couldn`t be reached for comment on the report.

Copyright 2000, Bloomberg L.P. All Rights Reserved.

[Kersken]

Thursday, November 9, 2000
TELECOMS

Joint venture set to spark online broking price war
ENOCH YIU

Chase JF and Pacific Century CyberWorks have joined hands to launch online stock broking services.
Their joint venture, 2cube Securities, is likely to start a price war among online brokers as it collects a commission rate of 0.18 per cent, lower than the 0.25 per cent minimum brokerage commission charged by the 500 stockbrokers of Hong Kong Exchanges and Clearing.

Since 2cube is not a member of the exchange it does not need to follow its rule.

Chan Chun-leung, managing director of 2cube, denied the firm aimed at competing by using low prices. He said the 0.18 per cent commission was "a reasonable price".

"With the use of the Internet, we will offer our services at a lower charge," he said.

Mr Chan said 2cube would compete on the basis of value-added services such as Chase JF research, personalised analytical investment reports and access to initial public offering flow, as well as free real-time stock quotes.

Mr Chan expected a price war among the online brokers would be inevitable as each would like to secure a piece of the pie in the new market.

[Kersken]

M1 could shelve its IPO plans for now
By Nawaz Marican, Singapore.CNET.com
Wednesday, November 8 2000

SINGAPORE--Local cellular phone operator MobileOne (Asia) Pte Ltd (M1) has said it will not go ahead with its listing plans this year until it resolves UK Cable & Wireless` (C&W)shareholding in the company.
"It would not be sensible to go into an IPO with (a) big shareholder issue outstanding. It would create an overhang in the market," M1 chief executive officer Neil Montefiore told reporters after a telecommunications conference in Hong Kong.

He was referring to C&W`s plan, announced in August, to divest its 15 percent stake in M1. Pacific Century CyberWorks (PCCW) chairman Richard Li had then expressed an interest to acquire the additional 15 percent stake. PCCW was not contactable at press time.

However, Montefiore declined to disclose a new timeframe for initial public offering, noting that M1 will make an announcement on the C&W issue in the next month or so.

In August, Keppel Telecommunications & Transportation Ltd, which has a 35 percent stake in M1, told reporters that it was "optimistic" M1 shareholders would agree to a local listing by year end.

Commenting on Montefiore`s statement to the press today, a Keppel T&T spokesperson said: "M1 is ready for a listing. The M1 shareholders are working closely together on the best strategy and window to list M1. As we have said before, M1 could be listed either at the end of this year or by the first quarter of 2001.

"We have said before that if the price is right, we are open to any possibility."

According to Dow Jones, Montefiore declined to comment on today`s media reports that a mobile joint venture between Australia`s Telstra Corp and PCCW would take a 30 percent stake in M1. He noted, however, that Telstra "has declared an interest" in M1.

[Kersken]

CyberWorks eyes Singapore

By Ben Kwok and Annette Chiu
08 November 2000

The mobile-telephone joint venture between Pacific Century CyberWorks and Australia`s Telstra is seeking a majority stake in Singapore`s MobileOne (M1), according to sources.

HONG KONG (SCMP.com) - The unnamed joint venture would issue new shares to M1 shareholders to acquire this stake, the sources said.

The transaction will be the first in the region for the alliance between CyberWorks and Telstra.

The joint venture would take at least a 30 percent holding in the mobile-telephone operator in an arrangement expected to be completed by the beginning of next year, the sources said.

However, depending on discussions with major shareholder Singapore-based Keppel Corp, which owns a 35 percent stake in M1, the joint venture could obtain a controlling stake.

Government-owned Singapore Press Holdings also holds 35 percent of M1.

CyberWorks and Britain-based Cable & Wireless (C&W) each own 15 percent.

CyberWorks had pledged to inject its M1 holding into the joint venture, the sources said.

"We can neither confirm nor deny it," CyberWorks executive vice-president Rebecca Leung said of the M1 investment.

But a Telstra source said the company was "interested in taking a controlling stake in M1".

"It will depend on the valuation" of the company, he said.

According to recent market rumors, the joint venture was set to sell a minority stake to Singapore Telecommunications (SingTel), M1`s main competitor in the city-state.

Through a possible share swap with M1 shareholders, Keppel would end up with a minority stake in the joint venture, the sources said.

The holdings of CyberWorks and Telstra in the alliance would be diluted accordingly.

"Buying a majority stake in M1 might not be an easy task," CyberWorks sources said.

"But that depends on whether all shareholders share the same vision ahead."

Analysts said the offer to swap shares in exchange for the Keppel and Singapore Press stakes in M1 might look attractive, especially if they chose not to inject more funds for third generation services expansion.

Edison Lee, CLSA analyst, estimated that the valuation of M1, which had more than 600,000 subscribers, could be as high as US$1.4 billion, or half of the valuation of CyberWorks` mobile unit. Telstra agreed to pay US$1.68 billion for a 60 percent stake in the former Cable & Wireless HKT`s mobile unit.

This valued the local mobile business at US$2.8 billion.

Sources indicated that the Telstra-CyberWorks alliance was in discussions to buy out C&W`s 15 percent stake in M1 in cash.

However, the alliance seemed to be having difficulty in its negotiations with C&W.

Dick Simpson, group managing director of Telstra-on-Air, told the Post last month that C&W were "quite prickly in the sense that they do not see us as friends".

SingTel was reported to be interested in a 9 percent stake in the Telstra-CyberWorks joint venture. Telstra sources said they were not talking to SingTel.

Francis Yuen Tin-fan, deputy chairman of CyberWorks, also said he had not heard about the SingTel involvement.

But he said the company would consider all partners for co-operation.

[Kersken]

Thursday, 09 November, 2000

Telstra not in talks with SingTel over stake in mobile company
by Michelle Chong

[ASW Singapore, 8 Nov 00] Australian Telstra Corp has denied that the group is in talks with Singapore Telecom Ltd (SingTel) to divest a 9% stake in the mobile company, which is a 60:40 joint venture between Telstra and Pacific Century Cyberworks (PCC). According to a report in the Business Times, PCC’s Deputy Chairman Francis Yuen did, however, mention that the venture does not rule out the possibility of bringing in more partners including SingTel. Analysts have earlier brushed the rumor aside as they believe SingTel would most likely be interested in taking a minimum of 20% stake in all its investments.

According to the BARRA consensus estimate (2 Nov 2000), analysts have recommended an OUTPERFORM on SingTel. At S$2.75, the stock is trading at a prospective price earnings ratio of 20.7x FY01 earnings and 19.9x FY02 earnings.

© AsiaStockWatch.com Pte Ltd, 1999 - 2000, All Rights Reserved.

[Kersken]

Thursday, November 9, 2000
TELECOMS

CYBERWORKS SEEKS GLOBAL BUYERS
BEN KWOK

Pacific Century CyberWorks has been seeking buyers worldwide for the remaining Cable & Wireless (C&W) stake in the company, according to deputy chairman Linus Cheung Wing-lam.
The disposal of the British company`s 14.2 per cent stake in CyberWorks could come this year, sources said.

Mr Cheung said he spent the past seven weeks meeting executives at several multinational companies in the United States, Europe and Japan about possible investments in CyberWorks.

"Our business focus is global," Mr Cheung said, "and we need to enlist international corporations as strategic partners."

However, the ex-chief executive officer of HKT did not specify which company was likely to emerge as the outright buyer for the C&W stake, which was worth HK$19 billion at yesterday`s market close.

US telecommunications companies Verizon Communications and Qwest Communications were said to be in discussions with CyberWorks on arranging a possible buyout from the C&W stake.

Three investment banks: Chase-JF, Salomon Smith Barney and UBS Warburg are understood to have a mandate to facilitate the sale. Mei Zhang, a spokesman at Salomon, confirmed that the brokerage was engaged in the CyberWorks deal, but she declined to be specific.

C&W, which disposed of a 4.9 per cent stake in CyberWorks to raise HK$10.4 billion in September, could not sell the other half of its remaining stake until February next year. However, the two parties could agree on an earlier settlement if CyberWorks managed to find a buyer for C&W, which indicated that they had no intention of holding the remaining shares. Sources close to the deal said CyberWorks was eager to arrange the sale before year-end.

CyberWorks shares surged 6.5 per cent in yesterday morning`s session on hopes that the overhang of its shares will soon be over. The counter ended the day at HK$6.30, or 3.28 per cent higher on turnover of HK$1.34 billion. Brokers said shares also surged on reports that CyberWorks` mobile joint venture with Australia`s Telstra Corp was set to take a controlling stake in Singapore`s No 2 mobile operator MobileOne Asia (M1).

The Post yesterday reported that the Australian-Hong Kong joint venture was in talks with Singapore-based Keppel Corp in a transaction which could involve issuing new shares to Keppel in exchange for its controlling stake in M1.

CyberWorks deputy chief executive Norman Yuen Kee-tong yesterday confirmed that the company had talks with Keppel on how to develop the mobile market in Singapore.

However, Keppel, which holds 35 per cent in M1, said in a statement: "We understand that C&W and PCCW [CyberWorks] is interested in selling the entire 30 per cent stake in M1. The rest is market speculation."

CyberWorks had indicated its interest in buying a 15 per cent stake in M1 from C&W.

While it is not sure what the Telstra-led mobile joint venture will secure in M1, shareholder uncertainty is hurting progress of its initial public offering (IPO).

"It would not be sensible to go into an IPO with the shareholding issue outstanding," M1 chief executive Neil Montefiore said in Hong Kong yesterday.

[Dos Players]

WKN
924882
Name
Pac Cent Cyber
BID
.95 EUR
ASK
1.01 EUR
Zeit
2000-11-09 09:00:03 Uhr

[Kersken]

16:09 09-NOV-2000
PCCW (0008-HK) to speed up data service connection time

Pacific Century CyberWorks`s telecommunications unit (PCCW-HKT) has pledged to reduce the connection time of its data services by a whopping 50 pct or customers will get their money back.

The guarantee for ultra-quick data services speed underlines the company`s commitment to provide top-quality service to its customers.

PCCW-HKT is cutting the connection time for low speed data services (64K and below) from 20 days to 10 days.

High-speed services (128K to E1) will drop from 28 days to 14 days.

PCCW-HKT guarantees that if it fails to meet these commitments, customers will be compensated with up to 10 pct of data line monthly rental charges, to a maximum of $3,000.

This money back guarantee is available to all customers, said PCCW-HKT director of Markeing and Products Tom Chan.
(End)

[Kersken]

PCRD verkauft Pacific Century Insurance nicht

Pacific Century Insurance (PCI) konnte heute im frühen Handel deutlich zulegen. Momentan hat man allerdings nur noch ein Plus von 2 %. Der Versicherer kann davon profitieren, dass es in näherer Zukunft keinen Wechsel bei dem kontrollierten Unternehmen geben soll. PCRD, ein Unternehmen von Richard Li und Hauptanteilseigner von PCI, bestätigte heute nochmal, dass man nicht plane seinen Anteil zu verkaufen.

Am Montag gab es Meldungen in verschiedenen Zeitungen, dass PCRD PCI an den amerikanischen Versicherer AIG verkauft, um Geld für die Kapitalerhöhung von PCCW zu bekommen.

-js- 09.11.00 08:55:00

[Kersken]

PCCW will Service erhöhen; Geld-zurück-Garantie

PCCW-HKT will seine Installations-Zeiten für Daten-Services um die Hälfte senken. Andernfalls bekommen die Kunden ihr Geld zurück. Bei den langsamen Daten-Services soll die maximale Zeit bis zur Installation von 20 auf 10 Tage und bei High-Speed-Services von 28 auf 14 Tage herabgesetzt werden. Dies sagte der Marketing-Director von PCCW-HKT.

Sollte dies nicht bei einem Kunden nicht gelingen, wird PCCW-HKT 10 % der monatlichen Rechnung, bis zu einem Maximum von 3000 HK-$, erlassen.

-js- 09.11.00 09:24:00

[Kersken]

15:57 09-NOV-2000
HSBC, PCCW (0008-HK) to discuss refinancing tomorrow

PCCW (0008-HK) has entered the final stage for re-financing of its US$4.7 billion (HK$36.66 billion) debt.

Sources said many banks are interested in taking part in the arrangement including the Bank of East Asia (0023-HK).

HSBC, a strong contender for the leading arranger, is still negotiating for the right.

HSBC general manager Raymond Or told CN-Markets that the bank will continue talks with PCCW tomorrow.

He indicated that interest rates involved could change before the final agreement is reached.

Earlier reports suggested the rate including the cost will be HIBOR plus 80 ¡V 100 basis points.

Sources said most banks would give PCCW a reply tomorrow.

(End)

[Kersken]

PCCW- führend im Service bei Breitband in Singapur

Pacific Century CyberWorks Broadband Network hat am Montag den Start von Breitbandservices in Singapur bekannt gegeben. Insgesamt sind Investitionen über mindestens 25 Mio S$ geplant. Diese sollen in den nächtsen 3 Jahren eingebracht werden.

Als besonderes Schmankerl will PCCW seinen Kunden 24 Stunden am Tag und 7 Tage die Woche technischen Support liefern. Damit ist PCCW der einzige Breitbandanbieter mit einem solchen Angebot.

Die weiteren Servcies von PCCW sind der Internetzugang mit 512 Kbps, ein ADSL Modem und seine Installation sowie allgemeine Webservices, wie Hompagespeicherplatz, email- Services mit Sicherheitsfunktionen u.a. .

Bis 2003 werden für Singapur insgesamt 1,2 Mio Nutzer erwartet.

-fjs- 09.11.00 10:41:00

[Kersken]

PCCW-HKT Offers Money-Back Guarantee for Data Services
Nov 09, 2000 - 15:24:56 HKT
Quamnet News Service

Pacific Century CyberWorks Ltd. (0008), Richard Li`s Internet and telecoms company, said its telecoms unit PCCW-HKT will reduce the connection time of its data services by 50 percent or customers will get their money back.

PCCW-HKT will cut the connection time for low speed data services (64K or below) to 10 days from 20 days, and high speed services (128K to E1) to 14 days from 28 days, said Tom Chan, PCCW-HKT`s director of marketing and products.

If it fails to meet its commitment, customers will be compensated with reimbursements of up to 10 percent of the monthly data line rental charges, to a maximum of HK$3,000, he said.

[Kersken]

Thursday, November 9 4:08 PM SGT
PCCW Launches Broadband Network in Singapore

SINGAPORE, Nov 9 Asia Pulse - Pacific Century CyberWorks [PCCW] Broadband Network has announced the launch of services in Singapore, with plans to invest at least S$25 million (US$17.5 million) over three years.
In a statement PCCW Broadband Network said it would provide efficient and cost-effective high-speed Internet connections for corporate users, reinforced by being Singapore`s first broadband service provider (using ADSL technology) to provide 24-hour, seven-day customer technical support.

Other PCCW broadband service offerings include Internet access at a dedicated speed of 512 Kbps, ADSL modem and installation; Internet services such as web page storage, secure email; and business application bundles.

David Phua, CEO of PCCW Broadband Network said, "with the government here solidly behind broadband expansion, coupled with IDA forecasts of strong broadband growth of 1.2 million users here by 2003, we see a compelling opportunity to market our services here in Singapore."

Via its Netvigator Internet service provider, PCCW already serves more than 160,000 broadband customers in Hong Kong.

ASIA PULSE

[Kersken]

09:37 10-NOV-2000
PCCW (0008-HK) refinancing below LIBOR plus 90 pts

Three banks have replied to Pacific Century CyberWorks (PCCW) that they are willing to be arrangers for its US$4.7 billion (HK$36.66 billion) refinancing and final number of arrangers may be more than four, according to the Hong Kong Economic Journal, citing sources.

The cost, including interest, for arrangers will be up to the London Interbank Offered Rate (LIBOR) plus 90 basis pts.

(End)

[Kersken]

10:18 10-NOV-2000
PCCW (0008-HK) to launch voluntary retirement scheme

Pacific Century CyberWorks (PCCW) will offer a voluntary retirement scheme to employees who have worked for 20 years or above in its telecommunications units.

Participants will be paid all the salaries, retirement protection and provident fund for nine months.

The company pointed out that there are about 2,500 employees who qualify based on this criteria.

It is expected that 10 pct of the qualified employees will take up the offer and a payment of $29 million will have to be made by the company for the first year.

The company will achieve a saving of $61 million per annum on operational costs if the scheme is fully taken up.

(End)

[Kersken]

14:30 10-NOV-2000
PCCW won`t force employees to join early retirement scheme

The deputy chief executive officer Norman Yuen of Pacific Century CyberWorks (PCCW) (0008-HK) said that the company had launched similar early retirement schemes in the past.

Mr Yuen said that the company had such schemes because they were favourable to both parties.

He denied the reports that four departments comprising 2,500 employees in total will join the scheme and about 250 of them will opt for voluntary departure or early retirement.

He said apart from the pension, the company will offer an extra nine months salaries as compensation.

Some employees have requested that the salary payout be upped to 12 months.

He responded that the company will consider a rise in compensation amounts if the requests are reasonable.

Chairman Richard Li said on TV this morning that the scheme is purely voluntary.

If employees choose not to take up the offer, the group will not force them to leave.

Mr Li is satisfied with the current financial position and operation of the group and said that the management of the company will stand by shareholders.

He pointed out that the group will keep making investments and increasing manpower despite the early departure scheme for existing employees.

(End)

[Kersken]

Brokerage: DaoHeng Securities Ltd. Website: www.dhsec.com
Report Title: Market Watch Report Issued: November 10.2000

PCCW (8) BUY $6.35
Ben Tam

PCCW [8] has offered up to nine months compensation to 2,500 employees if they choose to retire early. Management expects about 250 employees to accept the offer. The compensation will cost PCCW $29mn but the company will save about $60mn per year. We view this as a positive step by PCCW to tighten cost controls to revive the company.

Elsewhere, PCCW has denied rumours on the departure of several senior managers of the NOW operation in Hong Kong. PCCW is currently reviewing its NOW and iTV operations, and reports suggest that the expansion of NOW will be suspended until the review has been completed.

[Kersken]

PCCW schließt Netvigator und andere zusammen

PCCW will seinen Internet Service Provider Netvigator und zwei B2C-Projekte, die momentan noch unter dem Breitband-Service NOW laufen, zusammenschließen, um damit den 700.000 Kunden einen noch besseren Service anzubieten.

Zuerst sollen jedoch die Marketing- und Content-Abteilung der zwei Einheiten zusammengeschlossen werden. Dies soll Anfang nächsten Jahres erfolgen. Danach sollen alle drei Bereich vereint werden.

-js- 10.11.00 08:57:00

[Kersken]

PCCW: Reduzierung der Belegschaft

Die lokale Presse berichtet heute, dass PCCW 2.500 Angestellten, die man durch die Übernahme von C&W HK bekommen hatte und die mehr als 20 Jahr dort beschäftigt waren, eine freiwillige frühzeitige Pensionierung angeboten hat. Die Internetunternehmung rechnet angeblich damit, dass 250 Leute das Angebot annehmen und möchte so 61 Mill HK-$ im Jahr sparen.

Norman Yuen, Deputy Chief von PCCW, sagte, dass man sich noch kein konkretes Ziel zur Reduzierung der Mitarbeiter gesetzt habe und momentan noch in Verhandlungen mit den Arbeiternehmervertretern stehe. Richard Li sagte in einem TV-Interview, dass das Angebot vollkommen freiwillig sei und keiner zur Kündigung gezwungen werde.

Nach Meldungen von Medien verlangen die Arbeitnehmer neben der regulären Pension eine Abfindung von 12 Monatsgehältern. PCCW hatte 9 angeboten.

-js- 10.11.00 09:38:00

[Kersken]

PCCW: Banken reagieren auf Refinanzierungspläne

Pacific Century CyberWorks wird heute noch die Banken auswählen, mit denen in der nächsten Woche Gespräche zur Refinanzierung der verbleibenden 4,7 Mrd. US-$ Schulden aufgenommen werden sollen.

PCCW hat diese Schulden als Rest seit der 9 Mrd. US-$ schweren Übernahme der C&W HKT, konnte einen Teil durch Ausgabe von Bonds und neuen Aktien decken und durch den Merger mit der australischen Telstra Corp.

Insgesamt hat PCCW im Februar einen Kredit von 12 Mrd. US-$ aufgenommen. 3 Mrd. konnten schon ein viertel Jahr später zurückgezahlt werden. Chase Manhattan Corp., Bank of China, HSBC Holdings Plc., Fuji Bank Ltd. und Barclays Capital Asia Ltd. haben mit PCCW Kontakt aufgenommen, um über die Refinanzierung zu verhandeln. Nur Barclays allerdings ist mit den von PCCW gebotenen Konditionen einigermaßen einverstanden.

Nach den Vorstellungen von PCCW soll das Darlehen in drei Teile gesplittet werden. Mit drei, fünf und sieben Jahren Laufzeit. Citibank Ltd., Bank of America Asia Ltd. und BNP Paribas SA haben noch gar keine Refinanzierungsvorschläge abgegeben. Das ursprüngliche Darlehen von 12 Mrd. US-$ wurde von BNP, Barclays, HSBC und Bank of China vergeben.

-fjs- 10.11.00 09:57:00

[Kersken]

16:58 10-NOV-2000
Raymond Or: PCCW (0008-HK) refinancing rate reasonable

HSBC general manager Raymond Or said PCCW (0008-HK) will play an active role in the US$4.7 billion (HK$36.66 billion) refinancing.

He said whether banks want to participate will depend on the loan arrangements, terms, duration and interest rates.

He said as demands for loans are soft, it would not be surprising that the interest rate in the refinancing is set at 100 bps above the Interbank Offered Rate which would be considered reasonable.

He added that the banks will be studying the terms for repayment by PCCW.

(End)

[Kersken]

17:28 10-NOV-2000
Banks opt for mid-term loan for PCCW refinancing

Market analysts said that the refinancing of PCCW (0008-HK) may be divided into three years, five years and seven years.

However, Raymond Or, general manager of HSBC, said that banks have opted for a mid-term loan for the refinancing.

(End)

[Kersken]

Vereinigt PCCW Netvigator und NOW?

Wie die Tageszeitung Sun berichtete denkt PCCW über einen Zusammenschluss von Netvigator mit dem Business-to-Consumer-Bereich (B2C) von Network of the World (NOW) nach, um den Wert der 700.000 Netvigator-Nutzer zu steigern. Zunächst sollen der Marketing- sowie der Content-Bereich verbunden werden, was bis Anfang nächsten Jahres vonstatten gehen soll. (msp)

© Emerging Markets Research, 10.11.00
http://www.em-research.de

[Kersken]

PCCW fails to deliver on promised $70b loan deal
Bloomberg

PACIFIC Century CyberWorks (PCCW) (0008) missed a self-imposed deadline yesterday to appoint banks to arrange the refinancing of a US$9 billion (HK$70.2 billion) loan.
Still, the company said it will appoint five or six banks - two more than the four which arranged the original borrowing - to handle the loan next week.
It is seeking about US$4.7 billion in loans.
``We are considering expanding the lead arrangement group from four banks to five or six,`` said Francis Yuen, CyberWorks` deputy chairman. ``The company expects to appoint the lead arrangement group next week.``
CyberWorks, which borrowed US$12 billion in February to help finance its acquisition of Cable & Wireless HKT and paid back a quarter of it, said earlier this week it would ``pick up to four banks`` out of 10 approached before the end of the week. Chase Manhattan, Bank of China, HSBC Holdings, Fuji Bank, Barclays Capital Asia, BNP Paribas, ABN Amro Holding, Bank of America and Citigroup were talking to CyberWorks about arranging the refinancing. No details of the terms were available, though CyberWorks previously indicated the loan would be made in three parts - over three, five and seven years - on terms less than 100 basis points over Libor, currently 6.76 per cent.
11 November 2000 / 01:27 AM

[Kersken]

ANNOUNCEMENT
DELAY IN DESPATCH OF CIRCULAR
TO SHAREHOLDERS

The Board of Directors of PCCW announces that a circular containing further details in respect of the Alliance with Telstra as required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ¡§Rules¡¨) is currently expected to be posted to PCCW`s shareholders by 31 December 2000.

On 13 October 2000, the Board of Directors of Pacific Century CyberWorks Limited (¡§PCCW¡¨) announced that PCCW and Telstra Corporation Limited of Australia (¡§Telstra¡¨) executed legally-binding definitive agreements with respect to the implementation of their strategic alliance (the ¡§Alliance¡¨).
The Alliance involves, among other things, the formation of a 50:50 joint venture operating a global Internet Protocol (¡§IP¡¨) backbone business (¡§IP Backbone Co¡¨) and the purchase by Telstra of a 60% stake in a newly formed company that will own PCCW`s Hong Kong wireless communications business.
Pursuant to the Rules, a circular is required to be sent to the shareholders of PCCW (the ¡§Shareholder Circular¡¨) within 21 days after publication of the announcement. PCCW has applied for a waiver from the SEHK.

The Board of Directors of PCCW fully intends to disclose to PCCW`s shareholders information that may be relevant to enable them to make an informed decision. Given that IP Backbone Co has no prior existence and no financial statements are readily available, it will take time for PCCW to prepare the appropriate financial information for disclosure in the Shareholder Circular.

The Board of Directors of PCCW intends to despatch the Shareholder Circular to PCCW`s shareholders as soon as practicable and currently expects this to be by 31 December 2000.

By Order of the Board
Donald J. Hess
Company Secretary

Hong Kong, 9 November 2000

[igor1]

Ereignisse am Mittwoch, 15.11.2000

Unternehmen Ereignis
Pacific Century Cyberworks
Quartalsbericht

[Dos Players]

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