Li looks west for a leader
Article Abstract:
Hong Kong-based company Pacific Century Cyberworks Ltd., Hong Kong-based company, has hired North American search company Heidrick & Struggles International Inc. to find a potential successor to its chief exective officer, Richard Li. The search began in February, with the main focus being to acquire a telecommunications veteran who can stimulate PCCW's share price. Two possible candidates are Alex Mandl, former chief executive and chairman of Teligent Inc., and Robert E. Knowling Jr., former CEO and chairman of Covad Communications Group Inc.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 2001
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'Market needs prudence.'(Pacific Century CyberWorks Ltd. cuts Internet budget)(Statistical Data Included)
Article Abstract:
Pacific Century CyberWorks Ltd. plans to limit investment in its unprofitable Internet units to US$100 million, and overall investments will be cut to US$190 million from US$200 million. The company may also launch a bond issue that could reduce interest payments from its acquisition of Cable and Wireless HKT Ltd.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 2001
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PCCW seems to have time to reform its debt
Article Abstract:
Pacific Century Cyberworks Ltd. (PCCW) is trying to come out of its US$4.7 billion debt that threatens to put an end to its property and Internet investments. Last Monday, PCCW's share price fell to HK$1.97, a considerable downfall compared to its past HK$28.50 high. A bond would be useful for PCCW, because it would not restrict the cash flow of loans, in turn providing larger dividends for project expenditures.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 2001
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