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 » China Netcom and Richard Li agree to privatise PCCW (Hong Kong)
China Netcom and Richard Li agree to privatise PCCW (Hong Kong)
- November 4th, 2008
- 12:49 pm
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