SingTel, NewsCorp unlikely to make counterbid for C&W HKT

Contrary to recent press reports, SingTel and News Corp are unlikely to outbid PCCW for C&W HKT for fear of falling out with Beijing.

Jim Regan

April 26, 2000

It's getting to crunch time in the Cable & Wireless HKT (C&W HKT) bid saga and there is growing talk Singapore Telecommunications (SingTel) and News Corp, possibly in partnership with another global telecoms giant, are preparing an offer in excess of $30 billion - well above the current worth of Pacific Century CyberWorks' (PCCW) recommended offer.

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