HKT to regain CSL for $2.43b
HKT Ltd, a unit of PCCW Ltd, has agreed to buy Telstra Corp’s Hong Kong mobile-phone unit, CSL, for $2.43 billion, according to a statement filed with the Australian stock exchange. The deal enables PCCW to regain ownership of mobilephone assets it sold more than a decade ago and gives PCCW’s two operators with a combined market share of 31 percent. The deal is subject to approval from Hong Kong regulators and shareholders of HKT and PCCW. Secretary for Commerce and Economic Development Gregory So Kam-leung said the Communications Authority was studying whether the deal would weaken competition in the mobile phone service market.