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HKT-SS Sells Another 9% Stake in Passive Network Biz for HKD1.6B+
Recommend 4 Positive 11 Negative 8 |
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HKT-SS (06823.HK) and PCCW (00008.HK) jointly announced that Apex Link Communications Holdings Limited, an indirect wholly-owned subsidiary of HKT-SS, had sold a 9% stake in Regional Link Telecom Services (as the target company) to Pegasus Investment BidCo Limited, a company solely managed and controlled by CM Capital, for USD209 million (around HKD1.634 billion). Upon completion of the transaction, the target company will remain an indirect subsidiary of HKT-SS, and thus an indirect subsidiary of PCCW. The primary business of the target company is investment holding. Passive Netco, a wholly-owned subsidiary of the target company, is engaged in the passive network business. AAStocks Financial News |
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