PCCW and China Network Communications Group (Netcom) may consolidate their international businesses in the first stage of their cooperation.

PCCW and China Network Communications Group (Netcom) may P consolidate their international businesses in the first stage of their cooperation. PCCW and Netcom have signed a strategic cooperation memorandum on ventures in China in broadband TV, property and telecom services. All new cooperative ventures with PCCW are to be injected into the China Netcom Group Corporation (Hong Kong) once they mature. Netcom has proposed to buy a 20 per cent stake in PCCW for $1 billion. PCCW shareholders will vote on the proposed stake sale.