PCCW, Hong Kong's incumbent telecoms company, ended this week before it had even properly begun.
PCCW's goal is to become the biggest provider of broadband Internet service in Asia.
What will an HKT merger with PCCW or SingTel, or both, mean for Asia?
CNN: ASIANOW - Asiaweek | Intelligence | Business: Pick up the Pieces
Now with Richard Li's PCCW emerging as a bidder the whole game has changed.
CNN: ASIANOW - Asiaweek | Intelligence | Business: Pick up the Pieces
PCCW, half of it directly in the company and half in a mobile-telephony joint venture.
This is said to have helped PCCW achieve the majority among shareholders that it needed.
Hong Kong's appeal court blocked plans by PCCW , a telecoms operator, to buy out its shareholders.
The plan is not without some risk, in as much as the dividend would increase PCCW's indebtedness.
If PCCW gets HKT itself, it will break up the company and sell the rest of the businesses.
CNN: ASIANOW - Asiaweek | Intelligence | Business: Pick up the Pieces
PCCW's board, which met on July 3rd, is unlikely to abandon the sale.
He also talked about PCCW's response to STAR's announcement, about the future of his business and about his new life in Hong Kong.
Quite naturally, PCCW's outside shareholders felt that if there was easy money to be made, they should be cut in on the deal.
PCCW's initial stock fall is partly derived from the fact that analysts now have a facility to be able to read the stock, a century-old telephone company.
Investors, PCCW as well as HKT's shareholders and all potential bidders waiting on the sidelines, are focused not on HKT as a whole but on its parts.
CNN: ASIANOW - Asiaweek | Intelligence | Business: Pick up the Pieces
The court upheld objections by the territory's stockmarket regulator that blocks of PCCW shares had been handed out to friendly investors to ensure the plans were endorsed.
The court heard that the two men accused by the regulator of creating the scheme had denied that it was intended to bolster support for the PCCW buy-out.
PCCW's lawyer has insisted there was nothing unlawful about the share transfers and a lawyer for Mr Li's other company said the transfers generated no benefits for either PCCW or Mr Li and his buy-out partner.
Whether living in a Cheung Kong apartment, switching on a Fortress appliance powered by Hong Kong Electric, buying groceries at Park 'N Shop or toiletries at Watson's, listening to Metro Radio, or, soon, connecting via a PCCW-HKT line, people in the Special Administrative Region are a captive market.
Having failed to do so he reversed course in 2008 and came up with a clever scheme in which he, along with China Netcom, PCCW's second-largest shareholder, would take the company private, buying out the other shareholders for slightly less than he would receive from the company in a special dividend issued after the deal's completion.
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