SingTel, NewsCorp unlikely to make counterbid for C&W HKT

Contrary to recent press reports, SingTel and News Corp are unlikely to outbid PCCW for C&W HKT for fear of falling out with Beijing.

It's getting to crunch time in the Cable Wireless HKT CW HKT bid saga and there is growing talk Singapore Telecommunications SingTel and News Corp, possibly in partnership with another global telecoms giant, are preparing an offer in excess of $30 billion - well above the current worth of Pacific Century CyberWorks' PCCW recommended offer.

It's all a question of whether SingTel and News Corp have got the nerve to upset Beijing, which is rather obviously behind PCCW's audacious attempt to gain control of CW HKT. Before SingTel - which is 79% owned by the Singapore government - announced plans to merge with CW...

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