Richard Li and China Netcom have, reportedly, agreed to buy out shareholders for up to $2.5 billion and take PCCW private. The reports came after PCCW had denied sale of its core assets last month, which led to fall in stocks. China Netcom agrees to buy 57.62% of PCCW Group for HKD19.5 billion ($2.5 billion), with proceeds from the sale earmarked for overseas operations to offset slowing domestic business. The offer price represents a premium of 81.82% over the 13 October closing price of HKD2.75.
Wireless Federation » archive for 'Share Buyout'
China Netcom and Richard Li agree to privatise PCCW (Hong Kong)
- November 4th, 2008
- 12:49 pm
Telefonica Spain secures 96.75% stakes in Telefonica Chile
- November 3rd, 2008
- 12:39 pm
Telefonica Spain secures control of 96.75% in Telefonica Chile, aftr it proposed a buyout offer to its shareholders in order to gain control over the Chilean unit. Telefonica, which already held 44.9% of Telefonica Chile before the buyout, had spend around $815 million to buy back shares from shareholders who have agreed to its offer.
