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PR Newswire
20-12-2013, 07:33 PM
Richard Li has made quite a number of investments lately, with his father funding. LKS has been divesting...
Li tightens grip on Hong Kong mobile as Telstra bows out
SYDNEY/HONG KONG – Australia’s Telstra Corp has agreed to sell its Hong Kong mobile phone business to a company controlled by billionaire Richard Li in a deal worth US$2.4 billion (S$3 billion) that boosts the scion’s share of the city’s saturated mobile phone market.
Australia’s biggest phone company said in a filing that it had agreed to sell its 76.4 per cent stake in its CSL New World to HKT, a listed arm of Mr Li’s PCCW media conglomerate, for A$2 billion (S$2,2 billion).
HKT will also buy the remaining stake in CSL held by Hong Kong-based New World Development, the property developer controlled by the family of billionaire Cheng Yu-tung, according to the filing.
...
http://www.todayonline.com/business/li-t...a-bows-out
Li tightens grip on Hong Kong mobile as Telstra bows out
SYDNEY/HONG KONG – Australia’s Telstra Corp has agreed to sell its Hong Kong mobile phone business to a company controlled by billionaire Richard Li in a deal worth US$2.4 billion (S$3 billion) that boosts the scion’s share of the city’s saturated mobile phone market.
Australia’s biggest phone company said in a filing that it had agreed to sell its 76.4 per cent stake in its CSL New World to HKT, a listed arm of Mr Li’s PCCW media conglomerate, for A$2 billion (S$2,2 billion).
HKT will also buy the remaining stake in CSL held by Hong Kong-based New World Development, the property developer controlled by the family of billionaire Cheng Yu-tung, according to the filing.
...
http://www.todayonline.com/business/li-t...a-bows-out
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