Jaleco Buy

Hong Kong-based Pacific Century Cyber Works plans to buy controlling interest in Japanese game maker Jaleco. The deal, valued at $250 million in cash, will give PCCW and its partners an 81 percent stake in the company. PCCW will use Jaleco to spearhead its ambitions to create broadband content for the Japanese market. In addition, Jaleco's Tokyo stock listing will smooth future PCCW acquisitions in Japan. Jaleco will be renamed PCCW Japan and will be headed up by new CEO Ted Bonner.