PCCW $12bn loan stokes Asia M&A bonanza hopes

Pacific Century CyberWorks (PCCW), the internet company that is not yet one year old, is raising a syndicated loan of $12bn, in a dramatic indication of the rapid shifting of power in the global telecoms industry.

  • 03 Mar 2000
The loan, the largest yet from Asia, will act as a bridge financing for the acquisition of Hong Kong Telecom from its UK parent company Cable & Wireless. PCCW is acquiring its target with a $35.9bn cash-and-share offer, to form a company with a market capitalisation of ...

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