PCCW given permission to spin off its telecom business

摘要

Hong Kong-based telecom service provider PCCW has obtained the permission to spin off its telecom operations into a separate business trust. The stock market authority had previously turned down the company's request for setting up a business trust. However, all of the proposed changes are acceptable to the Listing Committee. The biggest modification in its plan was to keep its solutions assets within the company for a period of at least three years.