12:28 29-FEB-2000
FACTBOX-Key data on C&W HKT<0008.HK>/PCCW<1186.HK>
HONG KONG, Feb 29 (Reuters) - Internet upstart Pacific
Century CyberWorks Ltd (PCCW) emerged the victor in a hard-fought
battle to acquire Hong Kong's largest telecommunications company,
Cable & Wireless HKT <0008.HK>.
HKT, the Hong Kong unit of London-listed Cable & Wireless Plc
, had also been the subject of a merger offer from
79.7-percent government-owned Singapore Telecommunications
. SingTel gave up the pursuit on Tuesday.
A merger of PCCW and HKT would bring together one of the
territory's oldest and largest utility companies and one of its
youngest and most dynamic Internet investment firms. The merged
company would have a market capitalisation of US$70 billion.
Key data on C&W HKT and PCCW (Feb 28 share price for HKT, Feb
25 share price for PCCW).
C&W HKT PCCW*
--------------------------------------------------
Share price HK$25.95 HK$22.15
COMPANY SIZE
Number of employees 13,600 440
Shares in issue 12.119 bln 10.18 bln
Market capitalisation HK$314.49 bln HK$225.49 bln
(US$40.32 bln) (US$28.91 bln)
Total assets HK$53.97 bln** HK$348.8 mln**
FINANCIAL DATA
(as at last reporting date)
Financial year end March 31 December 31
Revenue HK$32.41 bln HK$283.6 mln
Net profit/(loss) HK$11.51 bln (HK$62 mln)
Price/earnings 26.4 times n.a.
Price/book 8.27 times 1,984 times
SUBSTANTIAL SHAREHOLDERS
Cable & Wireless Plc 54 pct --
China Telecom <0941.HK> 10 pct --
Pacific Century Reg Dev*** -- 53.5 pct
Pacific Century Group Hldgs 2.8
Pacific Century Diversified 5.6
Intel Pacific Inc 8.0
CMGI Inc 3.3
Hikari Tsushin Inc <9435.T> 2.5
CHIEF EXECUTIVES Linus Cheung Richard Li
* PCCW market cap and shares in issue figures reflect a
placement of 335 million shares at HK$23.50 each on
February 15-16.
** C&W HKT's total assets were listed at its last balance
sheet date of March 31 1999 and PCCW's as at end-December
1998.
*** Parent company shareholding as at September 1999. Pacific
Century Regional Developments is about 78 percent owned by
Pacific Century Group Holdings Ltd, a company 100 percent
held by PCCW chairman Richard Li.
(US$1=HK$7.8)
((Hong Kong Newsroom +852 2843-6441, Fax +852 2845-0636
hongkong.newsroom@reuters.com))
FACTBOX-Key data on C&W HKT<0008.HK>/PCCW<1186.HK>
HONG KONG, Feb 29 (Reuters) - Internet upstart Pacific
Century CyberWorks Ltd (PCCW) emerged the victor in a hard-fought
battle to acquire Hong Kong's largest telecommunications company,
Cable & Wireless HKT <0008.HK>.
HKT, the Hong Kong unit of London-listed Cable & Wireless Plc
, had also been the subject of a merger offer from
79.7-percent government-owned Singapore Telecommunications
. SingTel gave up the pursuit on Tuesday.
A merger of PCCW and HKT would bring together one of the
territory's oldest and largest utility companies and one of its
youngest and most dynamic Internet investment firms. The merged
company would have a market capitalisation of US$70 billion.
Key data on C&W HKT and PCCW (Feb 28 share price for HKT, Feb
25 share price for PCCW).
C&W HKT PCCW*
--------------------------------------------------
Share price HK$25.95 HK$22.15
COMPANY SIZE
Number of employees 13,600 440
Shares in issue 12.119 bln 10.18 bln
Market capitalisation HK$314.49 bln HK$225.49 bln
(US$40.32 bln) (US$28.91 bln)
Total assets HK$53.97 bln** HK$348.8 mln**
FINANCIAL DATA
(as at last reporting date)
Financial year end March 31 December 31
Revenue HK$32.41 bln HK$283.6 mln
Net profit/(loss) HK$11.51 bln (HK$62 mln)
Price/earnings 26.4 times n.a.
Price/book 8.27 times 1,984 times
SUBSTANTIAL SHAREHOLDERS
Cable & Wireless Plc 54 pct --
China Telecom <0941.HK> 10 pct --
Pacific Century Reg Dev*** -- 53.5 pct
Pacific Century Group Hldgs 2.8
Pacific Century Diversified 5.6
Intel Pacific Inc 8.0
CMGI Inc 3.3
Hikari Tsushin Inc <9435.T> 2.5
CHIEF EXECUTIVES Linus Cheung Richard Li
* PCCW market cap and shares in issue figures reflect a
placement of 335 million shares at HK$23.50 each on
February 15-16.
** C&W HKT's total assets were listed at its last balance
sheet date of March 31 1999 and PCCW's as at end-December
1998.
*** Parent company shareholding as at September 1999. Pacific
Century Regional Developments is about 78 percent owned by
Pacific Century Group Holdings Ltd, a company 100 percent
held by PCCW chairman Richard Li.
(US$1=HK$7.8)
((Hong Kong Newsroom +852 2843-6441, Fax +852 2845-0636
hongkong.newsroom@reuters.com))
