Hong Kong court gives green light to PCCW privatisation

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 despite allegations of vote-rigging. 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.