Wird PCCLF morgen wieder gehandelt? Wer hat Infos? o.T.

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293 Postings, 7419 Tage EmmaWird PCCLF morgen wieder gehandelt? Wer hat Infos? o.T.

25.01.00 14:54

665 Postings, 7277 Tage lowizardnews/link

Tuesday, January 25, 2000

                           CyberWorks signs joint venture with CMGI
                           HUI YUK-MIN

                           Updated at 8.17pm:
                           Pacific Century CyberWorks has forged a 50-50 joint venture with Nasdaq-listed
                           powerhouse CMGI to establish the American company's Internet-related operations
                           in the Asia-Pacific region.
                           The venture, to be called CMGI Asia, will establish Asia-Pacific operations for at
                           least 18 of CMGI's majority-owned investment units, according to CyberWorks
                           chairman and chief executive Richard Li Tzar-kai.

                           CMGI Asia will serve as a holding and management company for the separate joint
                           ventures to be formed with each individual operating company.

                           It will be granted at least 60 per cent interest in these entities. However, no financial
                           details of the new venture have been revealed.

                           CyberWorks will be responsible for the operating costs and capital expenditure of
                           CMGI Asia.

                           CyberWorks, the information technology flagship of Mr Li's Pacific Century Group,
                           raised $2.97 billion from a share placement on Tuesday to finance the new venture.

                           The company placed 188 million shares at $15.80 each, representing a 5.1 per cent
                           discount to the counter's last traded price.

                           The counter edged up 10 cents to close at $16.65 on Tuesday.

                           Trading was suspended in the afternoon, pending the joint venture announcement
                           and placement plan.

                           The plan is to develop CMGI Asia so its market capitalisation exceeds the US$28
                           billion of Yahoo! and Softbank's joint venture, Yahoo! Japan, after which it is
                           modelled, according to Hans G Hawrysz, CMGI executive vice president in corporate

                           Analysts welcomed the venture as it lays out the operating blueprint for CyberWorks
                           and its strategic partners.


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