PCCW $1.1 billion block sale of 11% stake in HKT

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