Overview:
- PCCW has undertaken a $1.1 billion block sale of an 11% stake in HKT.
- The deal is the first billion dollar block trade in Hong Kong for 10 months.
- Following the block sale PCCW now holds approximately 52% of HKT.
- Goldman Sachs acted as the sole placing agent and bookrunner on the transaction.
- PCCW and HKT are key players in telecommunications providing services such as telephone, data and broadband, mobile and television.
Adam Majeed - Regional editor