Board Meets on Cable & Wireless Merger

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Cable & Wireless HKT Limited has announced good progress in merger discussions with Pacific Century CyberWorks Limited. The views of the board will be posted to shareholders by 18 May 2000.

At a board meeting held on 28 March the board reviewed progress on the offer by Doncaster Group Limited to make a voluntary conditional securities exchange offer to acquire the entire issued share capital of C&W HKT.

Cable and Wireless, which owns approximately 54 per cent of the shares of C&W HKT, has given PCCW an undertaking to vote in favour of or assent to a scheme.

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