Regional Wireless wonˇ¦t purchase Asia Telecom shares

Dick Simpson, Chairman of Regional Wireless Co jointly formed by PCCW (0008) and Telstra, said that the company would not purchase the Asia Telecom business offered by the British Telecom.

He said that RWC hoped to directly manage the acquired telecom company rather than just holding minor shares.

British Telecom hopes to sell its shares in Asia Telecom including Japan Telecom, J-Phone and Maxis Communications Bhd. to relieve the debt burden. South Koreaˇ¦s LG Telecom, SmarTone Telecommunications Holdings (0315) and Singapore StarHub are also to be on sale.

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