Morgan Stanley gets on the PCCW bandwagon - finally

Who was the happiest man in the room during the PCCW and Telstra analysts'' briefing?

It was the height of embarrassment for Morgan Stanley Dean Witter during the battle for CW HKT. The top tier investment bank - Finance Asia's Best Investment Bank in Asia in 1998 and 1999 no less - had precisely no role to play in the deal. Arch-rivals Goldman Sachs were advising Singapore Telecom, WDR was advising PCCW, ING Barings and Flemings were advising CW HKT. But where was Morgan Stanley Dean WitteráOut to lunch

But in a coup that shows the firm's tenacity, it has stolen a lead on all its rivals by putting together the first post-merger deal for the PCCW and CW HKT people....

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