is-richard-lis-luck-set-to-change

Is Richard Li's luck set to change?

Richard Li tables another offer to unlock value in PCCW û a take-private proposal at an outlay of $1.9 billion. Shareholders cheer, but will they tender?
November 05, 2008
Controlling shareholders of PCCW have tabled an offer to minority shareholders to buy them out and delist the company at an equity value of HK$28.6 billion $3.69 billion, representing a per share price of HK$4.20

Hong Kong telecommunications firm PCCW is 22.5% owned by Pacific Century Regional Development PCRD, a Singapore-listed investment holding company which Richard Li controls with a 76% ownership stake. Another 5.8% is owned by Richard Li through wholly-owned holding companies as well as by some other large shareholders acting in concert. China Netcom, a China-based telecoms firm, owns 19.8%.

After the delisting, PCRD and Li will own 67% of PCCW via holding company Starvest, while China Netcom...
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