PCCW, Telstra Sign Reworked Agreement
- — 13 October, 2000 16:27
Under the revised terms of the binding strategic alliance agreement, Telstra will pay $US3.55 billion in cash to PCCW, which allows the high-flying Internet and telecommunications company to lower its debt to less that $US5.5 billion, PCCW said in a statement.
As part of the revisions made to the deal, Telstra will pay $US1.68 billion for a controlling 60 per cent stake in PCCW's mobile phone unit.
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