PCCW’s HKT Sells Further Stake in Passive Network Unit at Premium Valuation
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PCCW's telecom arm, HKT, is selling a further stake in its passive network infrastructure subsidiary for US$209.45 million, retaining control of the business. The sale reflects a premium valuation, with multiples higher than those of HKT Trust. This transaction is subject to regulatory approvals and aims to monetize part of a capital-intensive asset base. The latest analyst rating for PCCW Limited (HK:0008) is a Hold with a price target of HK$5.50. PCCW focuses on telecommunications and media services in Hong Kong and the region.
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