pcrd

Emotions run high and corporate governance triumphs as a Hong Kong court decides PCCW rigged a shareholder vote. Li loses, but do shareholders gain?

Richard Li's plan to take PCCW private is approved by a Hong Kong court, but an appeal is still outstanding, raising doubts about whether the proposal can meet its deadline.

PCCW explains to minority shareholders why the enhanced $3.93 billion take-private proposal, up 7% in value from the November offer, is reasonable.

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?

Richard Li and other founding shareholders sell 50.48% of Pacific Century Insurance to Fortis, netting $448 million.

Shareholders vote down a proposal to sell a 23% stake in PCCW to Francis Leung, opening the door for Richard Li to put together another deal for PCCW.

A chain of events in motion since January 2006 suggests Li's sale of PCRD's stake in PCCW was only one in a series of steps towards extracting value out of PCCW.

Frances Leung couldn't have gotten such attractive pricing had he gone to the region's commercial lenders.