Richard stake in financial media reported transactions with the letter in the normal

PCCW (0008.HK) deal fell through, the market focus shifted attention to whether the alleged breach of Richard Li, cross-media ownership regulations. Hong Kong Radio and Television Bureau spokesman said recently, is actively learn more about the incident, the details will be announced later.

It is understood that PCCW now has now pay TV license, Richard bought it in August this year, financial newspaper in Hong Kong, "the letter reported that" 50% stake. "Economic Journal," stated Director of Intellectual Resources, said last week, Richard Li had been to understand and take into account the problem, I believe Richard Li, PCCW and between the incident will not affect the transaction. Intellectual Resources also said the transfer letter was in September reported a 5% stake to Mr Li, but did not mention specific pricing.

Intellectual Resources explained that Richard Li had initially off-shore trust fund in the form of shares, "Economic Journal" and also promised not to interfere with "the letter reported that" the operation of the reason for this operation is to avoid the problems related to cross-media ownership. It is reported that Richard used this excuse will not take the initiative to apply for exemption. Intellectual Resources stressed that Richard shares initially involved in administrative work, and editorial work by colleagues who, in the foreseeable future, the editorial work are all nothing to do with the Lee family.

Holds a 19.94% stake in PCCW's second-largest shareholder China Netcom is also the PCCW deal was not expressed after the blessing. Netcom said it will respect the decision of the PCG small shareholders, but at this stage are still concerned about the development of PCCW, PCCW hopes to create a better future performance, the highest return for shareholders, and provide effective protection of shareholders investment.







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