Intel invests in HK Net access deal.
Published:
4 August 1999 y., Wednesday
Computer chip giant Intel Corp. said Sunday it was investing in a new joint venture with Hong Kong-based Pacific Century Group in an effort to bring high-speed Internet access to Asia. Under the deal, Intel_s existing joint venture with Pacific Century, known as Pacific Convergence Corp., would be folded into a new company, Pacific Century CyberWorks, Claude Leglise, vice president of Intel_s home products group, said in an interview. Pacific Century Group, a private company controlled by Richard Li, the youngest son of Hong Kong tycoon Li Ka-shing, is creating CyberWorks out of its acquisition of telecommunications firm Tricom Holdings Ltd. Intel would invest $50 million (HK$389 million) in CyberWorks and would also supply chips, software and systems to form the backbone of the new company_s broadcast and Internet business. Leglise said the deal would help Intel get a foothold in Asia_s Internet growth, and resembled a deal announced in June to supply U.S. telecommunications firm Hughes Network Systems Ltd. with chips for set-top boxes that will combine satellite TV with speedy Internet access.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Mr. Olli Rehn, European Union Commissioner, and Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following joint statement on Greece.
more »
The offering of shares of the new issue will commence on 03-05-2010.
more »
The World Bank today approved a $12 million IDA credit to Bhutan, designed to improve infrastructure services in parts of the capital city of Thimphu where no formal services are currently available.
more »
Fisheries ministers and stakeholders alike will be discussing the future shape of the EU's Common Fisheries Policy at two major events in Spain over the next days. On 2 and 3 May, in La Coruña, the Commission and the Spanish Presidency are organising a large stakeholder conference on the reform of the Common Fisheries Policy.
more »
Asia is leading the global recovery and the region’s contribution to global growth will continue to exceed that of other regions in the next two years, the International Monetary Fund (IMF) said today in its latest Regional Economic Outlook (REO) for Asia and the Pacific.
more »
The EBRD is supporting the modernization of the electricity distribution network and the development of renewable energy sources in Poland with a PLN 800 million loan (equivalent to approximately €205 million) to the Energa energy group in order to help the company strengthen its power grid.
more »
At the beginning of the summer this year, Vilnius will become the capital of the Baltic Sea region. On 1-2 June 2010, the city will host the Baltic Sea States Summit and the Baltic Development Forum (BDF) Summit.
more »
Visitors of the World Expo 2010, which will open in the Chinese city of Shanghai on May 1st under the slogan “Better City, Better Life” and will last for 184 days until the end of October, are kindly invited to get into a hot air balloon at the Lithuanian Pavilion.
more »
According to preliminary data, unaudited net loss sustained over the first quarter of the year 2010 by SEB Bank is LTL 59,4 million (EUR 17,2 million) and that by SEB Bank Group is LTL 80,3 million (EUR 23,3 million).
more »
European Globalisation Adjustment fund (EGF) aid must be delivered faster and more simply to unemployed workers hit by the financial crisis or globalisation, concluded the Budgets and Employment committees after evaluating the fund on Wednesday.
more »