PCCW says unit stake sale still on track

19 Sep 2008
00:00

PCCW is on track to sell a stake in its telecom unit, and is eyeing opportunities for IPTV in India, a Reuters report said.

The Reuters report further quoted Ian Stone, managing director of PCCW's international projects, saying that 'we are on track.'

PCCW, Hong Kong's former monopoly fixed-line carrier, had said in May it planned to fold its core media and telecoms businesses into a separate firm called HKT and sell 45% of the new company.

A deal, expected to come late this year, could fetch $2.5 billion.

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