Deals
PCCW Considers Spinning Off Telecommunications Operations
This article is for subscribers only.
Billionaire Richard Li may seek to spin off PCCW Ltd.’s telecommunications assets, at least his sixth attempt to reorganize Hong Kong’s biggest phone company after it underperformed rivals.
PCCW rose 4.6 percent to HK$3.43 at the 4 p.m. close of trading in Hong Kong, giving the stock its biggest two-day gain since January 2010. The company said it’s in talks with regulators in Hong Kong to list the assets separately as a business trust.