Quick sale of mobile stake in Hong Kong; deal pushes Telstra beyond Australia

Article Abstract:

Hong Kong-based Pacific Century CyberWorks is selling 40% of Cable and Wireless HKT's cellular telephone business to Australia's Telstra Corporation Ltd. for $1.5 billion. The deal hinges on the acquisition of Cable and Wireless HKT by Pacific Century CyberWorks. The deal also includes a $1.5 billion investment by Telstra in Pacific Century which would make the company and its partners the leading Asian provider of data, Internet, broadband and wireless communications services.

Australia, COMMUNICATION, Telstra Corporation Ltd.

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Hong Kong phone company approves a takeover bid; but the final decision is up to shareholders

Article Abstract:

Pacific Century Cyberworks is planning to takover Cable and Wireless HKT in Hong Kong. The deal is set, but still awaits the approval of HKT's shareholders. Pacific Century Cyberworks is taking an immense risk in this purchase considering HKT reported a 28% loss in earnings for 1999.

Wired Telecommunications Carriers, Telephone Communications, Telephone communications, exc. radio, Telephone services

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Sprint Is Near $34 Billion Deal To Buy Nextel

Article Abstract:

Sprint Corp. is in discussions with Nextel Communications to acquire the company, but tax issues and a possible bid by Verizon Wireless for Sprint might stop the deal.

United States, Telephone Communication, Management dynamics, Management, Communications industry, Nextel Communications Inc., Sprint Corp., NXTL, FON, Verizon Wireless Inc., Company business management, Wireless telecommunications service

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