H.K. bid for C and W
NZPA-Reuter Hong Kong Hong Kong tycoon Li KaShing, who started in business as a boy hawking dried fish, is to add a holding in oldestablished British telecommunications giant Cable and Wireless Pic to his extensive interests. His firm, Cheung Kong (Holdings), Ltd, has unveiled a plan to raise SUSI. 32 billion ($NZ2.138), a third of which is for buying 4.9 per cent of C and W. Ka-Shing said his company
and affiliates Hutchison Whampoa, Ltd, and Cavendish International Holdings, Ltd, bought the stake for just under SHK3B (JUS3BSM). In London, Cable and Wireless confirmed the move. Cheung Kong plans to raise JHKIO.2B (5U51.328) through four rights share issues — the biggest funding exercise ever seen in the colony. Li said the group planned to use the remaining money for investments in Hong Kong but gave no details.
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Press, 16 September 1987, Page 39
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142H.K. bid for C and W Press, 16 September 1987, Page 39
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