Richard Li pave way for selling PCCW
Hong Kong tycoon Richard Li took another step to promote the sale of his controled-shareholder interest in the fixed-line phone operator PCCW, through arranging a deal to make US private assets operator TPG-Newbridge retreating from the bid for a Singapore controled-share company.
Singapore-listed Pacific Century Regional Developments Ltd (PCRD) said in a announcement later Tuesday Pacific Century Group (PCG), controled by Richard Li, paid for a certain money in attempt to modify the term which TPG took a proposal to acquire 25% interest of PCRD.
Li owns 75％ shares of PCRD by a controled-share company, while PCRD owns 23% shares of PCCW.
If the deal succeed, PCRD will advance the vote for selling its PCCW's interest, which will be sold to a consortium led by HK banker Francis Leung Pak-to with HK$9.16 billion.
- 1 MySpace suicide conviction tentatively dismissed
- 2 PIMCO:
- 3 Boeing may buy plant from 787 supplier: report
- 4 Oil above $71 on inventory drop, Nigeria
- 5 U.S. marshals seize Madoffs $7 million NY apartment
- 6 NY thieves want iPhones, victims fight back
- 7 U.S. June payrolls fell 467,000, jobless rate rises
- 1 China to launch stock exchange for smaller companies
- 2 Obama bringing hefty agenda on European trip
- 3 GM sees bankruptcy risk
- 4 For Wall Street, March is best month since 2002
- 5 North Korea missile consistent with satellite: U.S.
- 6 HK, Shenzhen agree on innovation plan
- 7 $6.6b Gov't deficit recorded
|
- 1 U.S. bankruptcies highest since 2005
- 2 Oil rises $1 as dollar weakens
- 3 Geithner says to "streamline" regulatory structure
- 4 Ex-AT&T CEO to become chairman of restructured GM
- 5 U.S. clears 10 big banks to repay bailout funds
- 6 Talbots to cut more jobs
- 7 BlackRock nears BGI deal to build asset powerhouse
|
|
