Bye bye? No - buy, buy

7 Dec 2006

PCCW chairman Richard Li has bought an additional 11.335 million shares in the telco for HKD54 million (USD7 million), following his purchase of 41 million shares last Friday, according to a Hong Kong Stock Exchange disclosure. Li had been planning to step down from his post at PCCW until an attempt to sell his controlling stake was vetoed by minority shareholders of his 75%-owned holding company PCRD on 30 November. The following day, in an apparent u-turn, he set about buying up new shares; his reported purchases to date raise his overall interest in the firm from 26.38% to 27.16%.

Hong Kong, HKT/PCCW (incl. CSL), PCCW Group