Morgan Stanley gets on the PCCW bandwagon - finally

It was the height of embarrassment for Morgan Stanley Dean Witter during the battle for CW 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 CW HKT. But where was Morgan Stanley Dean WitteráOut to lunch

But in a coup that shows the firm's tenacity, it has stolen a lead on all its rivals by putting together the first post-merger deal for the PCCW and CW HKT people....