21 Mar '11, 3pm

HK's PCCW mulls spinning off telecom assets: HONG KONG : Hong Kong fixed line operator PCCW has said it is consi...

HK's PCCW mulls spinning off telecom assets: HONG KONG : Hong Kong fixed line operator PCCW has said it is consi...

HONG KONG : Hong Kong fixed line operator PCCW has said it is considering spinning off its telecom assets through a business trust. This is seen as the latest attempt by company chairman Richard Li, son of tycoon Li Ka-shing, to sell off the debt-laden assets. In a statement issued to the stock exchange on Monday, PCCW said it has started talks with regulators in Hong Kong on the possible spin-off of its telecom assets in the form of a business trust. It is not immediately clear if PCCW is mulling a listing in Hong Kong or elsewhere, but the telco noted that the plans are only at a preliminary stage. Market watchers are naturally speculating that it could a case of the son following his father's footsteps - heading for a business trust listing in Singapore. Li Ka-shing has just successfully completed a US$6 billion listing of its greater China port assets in Singapore. It ...

Full article: http://www.channelnewsasia.com/stories/corporatenews/view...

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