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In late January 2000, Cable & Wireless plc (C&W) and Singapore Telecommunications Limited (SingTel) unveiled a proposed merger of equals between Cable & Wireless HKT (HKT) and SingTel. Both HKT and SingTel were the leading telecoms operators in their local markets, and a merger between the two would create the second largest full service telecoms provider in Asia outside Japan. Nonetheless, the proposed deal was received coolly in Hong Kong and Singapore owing to uncertainty over its political and financial ramifications. Meanwhile, Pacific Century CyberWorks Limited (PCCW), a leading Internet start-up in Hong Kong, was considering launching a rival bid before SingTel sealed a deal with C&W. This case is one of a three-part case series about the bid for Cable & Wireless HKT Limited. It can be used in conjunction with ''The Divestiture of Cable & Wireless HKT Limited'' (102-019-1) and ''Pacific Century CyberWorks Limited: The Bid for Cable & Wireless HKT Limited'' (102-018-1) in a bilateral/trilateral negotiation exercise. It may also be taught singly in the usual case discussion fashion. This case serves as a useful vehicle for students to explore the making of a cross-border merger decision. The case was used in the 2002 Concordia MBA Case Competition. The available teaching note discusses the teaching approach to using the cases in a bilateral/trilateral negotiation exercise where students are assigned parts to play.