HONG KONG (Reuters) – PCCW’s (0008.HK) controlling shareholders will no longer pursue a buyout and will move on to focus on growth in the company’s core business and expanding into new areas, a PCCW executive said on Friday. “There is no privatisation. That’s all finished. We’re moving on,” Group Managing Director Alex Arena said on [...]

HONG KONG (Reuters) – A Hong Kong appeals court on Wednesday blocked the $2.2 billion privatisation of phone company PCCW Ltd (0008.HK) by its largest shareholder, Richard Li, ruling in favour of the city’s securities watchdog. The decision overturns an April 6 High Court decision allowing the deal to go ahead, and casts the buyout [...]

HONG KONG (Reuters) – A Hong Kong Court deferred a hearing on Tuesday on a $2.2 billion plan to take dominant telco PCCW Ltd (0008.HK) private, giving the securities watchdog time to provide evidence on a probe into alleged vote buying. Trading in PCCW shares was earlier suspended ahead of a High Court hearing on [...]

Shares in PCCW surged HK$0.78, or 26.9%, to HK$3.68 after largest shareholder Richard Li unveiled plans to take the Hong Kong telecom company private with the backing of Chinese state telecom China Netcom, which has a 19.9% holding. At present the duo own 47.9% of PCCW’s shares. However, that left PCCW below the cash offer [...]

HONG KONG (Reuters) – Hong Kong telecommunications company PCCW (0008.HK) said on Sunday it has ended the sale of a stake in its new HKT unit, citing the market upheaval. The auction for HKT, a business estimated to be worth more than $3 billion which had attracted several private equity bidders, is the second major [...]

NEW DELHI (Reuters) – Hong Kong’s PCCW (0008.HK) is on track to sell a stake in its telecom unit, and is eyeing opportunities for Internet Protocol TV in India, a senior official said on Thursday. Sources involved in the deal had told Reuters a deal expected to come later in the year for the telecom [...]