Court approves PCCW privatisation, but questions linger

Richard Li's plan to take PCCW private is approved by a Hong Kong court, but an appeal is still outstanding, raising doubts about whether the proposal can meet its deadline.

Richard Li, chairman of PCCW, scored a victory yesterday when a Hong Kong judge ruling on the scheme of arrangement by which a delisting of the company will be effected found no evidence that a shareholder vote in February was rigged. She therefore ruled that the delisting should proceed. However, the Hong Kong securities watchdog, the Securities and Futures Commission SFC was allowed an appeal that will be heard on April 16.

The HK$28.6 billion $3.7 billion...

To continue reading, please login or register for free

Click for more on: privatisation | pccw | delisting | pcrd | richard li

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...