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[sharechat] TLS & PCCW - U want broadband, ask your bank

From:	Marilyn Munroe <who.c@res.co.nz>
Date:	Tue, 4 Mar 2003 01:39:48 +1300

Several of the world's biggest banks are threatening to sue Telstra and sever 
business links with the company if it does not make a $US400 million cash 
injection into its financially stricken Asian subsidiary.

Read more at;

        
http://reuters.com/financeNewsArticle.jhtml?storyID=2313147&type=bondsNews

Seems like like Telstra are going to walk away from their Asian adventure by 
writing down their investment to zero and refusing to throw good money after 
bad.

This means that the banks will probably end up holding the baby.

With the problems of Worldcom & Global Crossing it seems that investment banks 
already have more undersea cable than they need. Laying undersea cable really 
turns out to be a sunken cost.

I imagine that Telstra's 'top' management has already moved onto the the next 
big thing.

Boop-boop-de-do Marilyn

Disclosure: Hold Telstra

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