What made Netcom buy PCCW stake?

Chinese telco enters the Hong Kong market. Good luck will be the verdict of many.

The worst-kept secret in Asian MA was finally announced yesterday when China Netcom declared its intention to buy 20% of PCCW. In doing so it is dipping its toe in what many will regard as one of the world's most difficult telecoms markets - indeed, a market so difficult that the operators and the regulator OFTA frequently take pot shots at each other in the media.

Hong Kong's mobile phone market is highly fragmented...

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