Morgan Stanley gets on the PCCW bandwagon - finally

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

Nick Lord

May 01, 2000

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?

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