TechTarget

Cable & Wireless rejected takeover offer

Hong Kong's largest telecommunication company, PCCW has said that last year it approached Cable & Wireless regarding a takeover....

Hong Kong's largest telecommunication company, PCCW has said that last year it approached Cable & Wireless regarding...

a takeover. However, C&W rejected the offer.

PCCW is not engaged in discussions with C&W regarding a potential offer or any other deal although the possibility of a deal with C&W has not been ruled out. The company added that it had no intention of buying PCCW shares held by C&W.

C&W owns around 15% of PCCW as a result of its $30bn (£18.4bn) purchase in 2001 of HKT.

At the time, the deal was seen as strategically significant for PCCW's ambitions to become a major regional internet and media company.

But the bursting of the internet bubble deflated PCCW's plans for a global network of media outlets that fell somewhere between traditional television and the internet .

CW+

Features

Enjoy the benefits of CW+ membership, learn more and join.

Read more

0 comments

Oldest 

Forgot Password?

No problem! Submit your e-mail address below. We'll send you an email containing your password.

Your password has been sent to:

-ADS BY GOOGLE

SearchCIO

SearchSecurity

SearchNetworking

SearchDataCenter

SearchDataManagement

Close