Is Macquarie Bank Bidding for PCCW?

The sale of his Hong Kong-based telecom and pay-TV assets could free up Richard Li to pursue his international ambitions

For a second-generation tycoon like Richard Li, Hong Kong has always been too small a stage. Li is the younger son of billionaire Li Ka-shing, the legendary Hong Kong dealmaker whose telecom, ports, property, and retail empire extends from Beijing to Tel Aviv and from London to the Panama Canal. Richard, who turns 40 in November, doesn't have a role at his father's company, where older brother Victor is clearly No. 2 and positioned to take control after his father.

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