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PBL to Float Casino: Report24 May 2006AUSTRALIA -- 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..." |