Internet tycoon Richard Li spared no expense ringing in the millennium. The 33-year-old founder of Pacific Century CyberWorks Ltd. flew American pop diva Whitney Houston to Hong Kong to sing at his all-night New Year's Eve party for thousands of revelers. Since then, the young mogul has been making a show of his wealth and power with deal after deal. He is now preparing his most audacious move yet: an attempt to trump Singapore Telecommunications Ltd. in a bid for Cable & Wireless HKT, the local phone giant with a $37 billion market capitalization.
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