Li Holds On To Pccw, But Mainland Deals Are Off The Table

摘要

PCCW chairman Richard Li has managed to hold onto his controlling stake in the firm, after minority shareholders of Pacific Century Regional Developments, in which Li holds 75%, overwhelmingly rejected a deal to sell its 23% stake in PCCW for HKS9.2 billion (US$ 1.2 billion) to the consortium led by local entrepreneur Francis Leung. Leung's consortium included Li's father, Li Ka-Shing, and Spanish giant Telefonica, which had agreed to take shares of 12% and 8%, respectively, with Leung holding 3%.