Thursday, May 25, 2006

As reported by the Courier and Mail: "Publishing and Broadcasting is
planning to float its Macau casino joint venture with Hong Kong billionaire
Lawrence Ho on the US stock exchange, a newspaper report says. "The
Australian Financial Review said PBL was working with three investment
banks, believed to be Citigroup, Credit Suisse and UBS, on floating a 20 per
cent stake in the venture on the Nasdaq Composite Index in the US. "The deal
is expected to value the venture at $US5 billion ($6.6 billion) and is
scheduled to take place before the end of the year..."