There has been a lot of conjecture made in recent days regarding former Hong Kong financier Francis LeungÆs acquisition of a 23% stake in PCCW Leung is set to acquire the stake in PCCW held by Singapore-listed Pacific Century Regional Developments (PCRD) at HK$6 ($0 77) per share, a total consideration of HK$9 2 billion ($1 2 billion)
Furthermore, Richard Li through PCRD has agreed to lend HK$6 4 billion ($820 million) to Francis Leung to partially finance the acquisition The funds will be lent with an annual interest rate of 6 5%
In reality no cash will actually exchange hands for the time being, the $6 4 billion loan is nothing more than a...
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