Little Richard makes it bigger

More deal making from Pacific Century puts a cool $487 million in Richard Li''s back pocket. Once again the money has come from the government of Hong Kong.

Richard Li - internet guru, property mogul and son of the father - has just become a whole lot richer. His privately held Pacific Century Group company has sold 1% of the shares in listed subsidiary Pacific Century CyberWorks for a cool HK$3.8 billion $487 million. What makes this placement so interesting is that the shares were probably to the Hong Kong government.

CyberWorks has completed its merger with Cable Wireless HKT, the...

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