PCCW !

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PCCW ! Heinzelmann

PCCW !

 
#1
HONG KONG, Feb 13 (Reuters) - Hong Kong's Cable
                   & Wireless HKT said Pacific Century CyberWorks
                   <1186.HK> (PCCW) has made no firm proposal in its
                   approach to C&W HKT's British parent for a possible
                   merger with the Hong Kong unit. "C&W HKT's directors wish to emphasise that no offer
                   has been made to the company and there is no certainty that any firm proposal will be
                   made by PCCW," C&W HKT said in a statement late on Saturday.

                   The financial advisers of C&W HKT and PCCW had met to discuss the proposal but
                   PCCW had made no offer, C&W HKT said. C&W HKT has applied to the stock
                   exchange for trade in its shares to resume on Monday after being suspended on Friday at
                   the firm's request.

                   On Friday, Britain's Cable & Wireless Plc had said PCCW had told it it planned to
                   propose a merger with the firm's 54 percent Hong Kong subsidiary.

                   C&W HKT said it received a copy of a letter from PCCW telling Cable & Wireless it
                   intended to propose a merger with C&W HKT. C&W HKT said it was continuing talks
                   with its parent and Singapore Telecommunications Plc (SingTel) over a possible merger
                   with SingTel.

                   ((Hong Kong Newsroom, +852 2847 4017, fax +852 2845 0636
                   hongkong.newsroom@reuters.com)) .


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