Hong Kong regulators appeal after PCCW buy-out approved
Hong Kong’s Securities and Finance Commission said on Monday it would appeal a High Court ruling that cleared the way for the HK$15.975bn ($2bn) privatisation of telecom firm PCCW, leaving the bumper financing in doubt.
The High Court ruled on Monday that PCCW’s major shareholders had acted in good faith, dismissing the SFC’s allegations that one investor had split his holding to boost the number of people able to vote in favour of the buy-out.
The SFC immediately filed an appeal, which is
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.