HKT to re­gain CSL for $2.43b

China Daily (Hong Kong) - - NATION | DIGEST -

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.

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