New World takes legal action against Davnet

In its effort to blame New World Development for the breakdown of plans to take a stake in the company''s telephone business, Davnet of Australia may have stirred up more trouble than it bargained for.
June 01, 2000

New World Development, one of Hong Kong's largest real estate developers, plans to sue Davnet after the Australian telecommunications company called off talks to buy a 74% stake in New World's fixed line telephone business, claiming it was losing revenue, market share and staff.

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