China Netcom set to gain largest PCCW stake

15 Feb 2006

The ownership structure of Hong Kong’s PCCW is set to change again after Newbridge Capital indicated that it would sell a 5.77% stake in the telco to China Netcom. Currently, PCCW chairman Richard Li holds a 20.85% share in Hong Kong’s largest fixed line provider, slightly higher than China Netcom’s 20%. Newbridge was recently granted permission by Li to purchase a 25% stake held by minority shareholders in the Singapore-listed Pacific Century Regional Development, which holds 23% of PCCW. After the transactions are complete, Newbridge will hold an indirect stake of 5.77% in PCCW.

Hong Kong, China Netcom, HKT (incl. CSL)