很显然，电讯盈科的小股东才是输家。
It is PCCW's public minority shareholders who are the clear losers.
电讯盈科计划合股，股份五合一。
如有任何争议，电讯盈科保留最终决定权。
In case of disputes, PCCW reserves the right to make the final decision.
原来强加于电讯盈科的若干特别条件也相应得以解除。
Accordingly, a number of special conditions previously imposed on PCCW have now been removed.
电讯盈科回应称，其投资银行批准了这一交易并认为报价是合理的。
The firm replies that its investment bankers approved the deal, and that it thinks the offer price was fair.
但是如果交易完成，电讯盈科计划支付特别股息来收购那些未有参与的股东手中的股份。
But if the deal closes, the firm plans to pay a special dividend that will cover the cost of buying out those who did not participate.
电讯盈科主要用股份支付那次收购的费用，这些股票在互联网泡沫破灭后下跌了95%。
It paid mainly with shares, just before the dotcom bust. They have since fallen by 95%.
如果你喜欢的明人明星成为电讯盈科代言人，你会转用电讯盈科作为你的供应商呢?。
If your favorite celebrity endorser is selected as a spokesperson of the PCCW, will you change to PCCW?
一直关注电讯盈科的买家称，该公司能产生巨大的现金流，使其可以更容易获得贷款。
Buyers that have looked at PCCW say it produces significant amounts of cash, making it easier to load debt onto the company.
公司的财务总管亚历山大说道：一点也不奇怪“世界上所有的电话公司”都要来参观电讯盈科。
No wonder that "just about every phone company in the world" has come to visit PCCW, says Alexander Arena, the firm's finance chief.
公司的财务总管亚历山大说道：一点也不奇怪“世界上所有的电话公司”都要来参观电讯盈科。
No wonder that “just about every phone company in the world” has come to visit PCCW, says Alexander Arena, the firm's finance chief.
上个月，电讯盈科还终止了出售其核心电信和媒体资产45%股份的谈判，称收购方的报价过低。
Last month, PCCW also ended talks to sell a 45% stake in its main telecommunications and media assets, saying buyout offers weren't sufficient.
电讯盈科互动多媒体有限公司保留权利随时终止以上优惠，或调整有关费用与条款及细则而无须另行通知。
PCCW IMS Limited reserves the right to terminate the above Offer, to adjust all fees & charges and to amend the Terms & Conditions at any time without prior notice.
由于电讯盈科自2004年以来一直成交低迷，市场参与者早就预计这家电话公司会被剔出恒生指数成份股。
Market participants have long anticipated PCCW would be removed from the Hang Seng Index because the telephone company has had low trading volume since 2004.
由于电讯盈科自2004年以来一直成交低迷，市场参与者早就预计这家电话公司会被剔出恒生指数成份股。
Market participants have long anticipated PCCW would be removed from the Hang Seng Index because the telephone company has had low trading volume since 2004.
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