PCCW seals deal with Telstra

Pacific Century CyberWorks (PCCW) has at long last managed to seal a deal with Telstra, albeit on terms very different from those outlined when the transaction was first announced in April. The removal of the uncertainty as to whether or not a deal would be struck should be a positive factor for PCCW’s shares, the price of which has fallen 70% since it peaked in February to HK$7.65 – the price at which it last traded before being suspended.