Smart Rich Chairman Offers to Acquire PCCW Assets, Reuters Says

Wong Kam Fu, chairman of Smart Rich Energy Finance (Holdings) Ltd., will offer to buy the assets of PCCW Ltd., Reuters reported, citing a statement from the executive.

Wong said he ``hoped'' the transaction would result in PCCW shareholders receiving HK$6 for each share, Reuters said today. Wong is advised by Macquarie Bank Ltd. and Societe Generale SA (GLE), according to the report.

PCCW shares closed unchanged at HK$4.85 in Hong Kong stock exchange trading today. Smart Rich gained 14 percent to 58 HK cents.

No one at Smart Rich Energy's office in Hong Kong picked up the phone and Joan Wagner, a PCCW spokeswoman, wasn't immediately available to comment on the report.

To contact the reporter on this story: Joost Akkermans in Hong Kong at jakkermans@bloomberg.net

To contact the editor responsible for this story: Teo Chian Wei at cwteo@bloomberg.net

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