Morgan Stanley gets on the PCCW bandwagon - finally

It was the height of embarrassment for Morgan Stanley Dean Witter during the battle for C&W 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 C&W HKT. But where was Morgan Stanley Dean Witter?áOut to lunch?