Hong Kong's Richard Li, long one of Asia's most eligible bachelors, may have dropped a notch in his appeal. The 42-year-old son of ports and property tycoon Li Ka-shing took an estimated hit of $300 million thanks to another botched attempt to sell a stake in Hong Kong's biggest phone company, PCCW. Credit markets froze and investors questioned how private equity buyers could secure financing. By the time bidding closed in mid-October, PCCWs share price had plunged 45% and the auction was canceled. Since Li, worth $1.4 billion earlier this year, bought Hong Kong's biggest telecom in 2000, its shares have rumbled 97%. His latest reported plan: take PCCW private.
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