just-how-high-could-the-bidding-go-for-pccws-hktc

Just how high could the bidding go for PCCW's HKTC?

As PCCW opens up to potential suitors for its HKTC subsidiary, what numbers would make sense for the winning LBO?
With the bidding war for the core telecommunications and media-related assets of PCCW expected to escalate between Macquarie Bank and TPG Newbridge, speculation is mounting throughout the market as to how large the ultimate winning bid could be.

On Tuesday, it was reported that two non-binding expressions of interests were put forward to PCCW. Those bids were reported to be worth upwards of HK$40 billion to HK$50 billion $5 billion to $6.4 billion in overall size. Although, in a recent press release PCCW noted that these amounts were inaccurate and somewhat speculative.

However, despite the respective initial offers, credit analysts believe that any transaction undertaken by the winning bidder will probably not...
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