Wharf Holdings may sell pay TV business soon

10 Jan 2017

Fresh from the sale of its telecoms unit Wharf T&T in October, Hong Kong's Wharf Holdings is considering divesting its pay TV unit i-Cable Communications.

Wharf Holdings has been in negotiations with various third parties as part of a strategic review of its cable TV assets, the Standardreported.

The negotiations may or may not lead to a sale of the business, and no formal agreement has yet been reached.

The conglomerate sold its enterprise-focused fixed line ISP unit Wharf T&T to a consortium of MBK Partners and TPG Capital for HK$9.5 billion ($1.22 billion) in October, after attracting at least seven bids for the assets.

Wharf has been selling off its telecoms assets to raise funds to shore up its finances while its main property business slows. i-Cable has also been operating in the red, having posted a net loss for 1H16 of HK$135 million, up from HK$121 million a year earlier.

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