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PCCW considers listing of telecom unit
21 March 2011
PCCW is said to be considering a separate listing of its Hong Kong fixed line phone business
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PCCW
Hong Kong
Cable & Wireless
Hong Kong’s PCCW is considering a separate listing of its fixed-line telephone business. The Hong Kong company is in the preliminary stages of exploring the feasibility of a spinoff and separate listing.
PCCW, headed by Richard Li, has been discussing related issues with regulators in Hong Kong, but a decision has not been reached by the board. As well as the fixed line phone company, PCCW owns media interests, broadband and mobile services in Hong Kong and elsewhere.
The telecoms operations may be listed in the form of a business trust. It is not clear whether PCCW will list the new business trust in Hong Kong or elsewhere.
Li is said to be trying to sell the debt-laden telecom assets. Li bought Hong Kong’s dominant phone operator from UK operator Cable & Wireless in 2000, in a deal valued at $28 billion. GTB