The saga surrounding PCCW took its latest twist at the end of last week, when the company confirmed that Pacific Century Regional Developments (PCRD), Mr Li's Singapore holding company, and China Unicom, PCCW's second largest shareholder with a 19.9 per cent stake, is considering making minority shareholders an offer to take PCCW private.
The market had been anticipating an offer from Mr Li, who controls 28 per cent of PCCW, ever since the company's shares were suspended from trading a fortnight earlier.
But PCCW cautioned that there was “no assurance that a proposal will ultimately be made”, and Mr Li has failed to execute a number of transactions involving the company.
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