Summary by Moomoo AI
PCCW Limited announced that its wholly-owned subsidiary signed a sale and purchase agreement with investors on June 26, 2024, agreeing to sell the target equity for a total price of 870 million US dollars, which will be settled in cash. After completion, the target company will continue to operate as an indirect subsidiary of Hong Kong Telecommunications, that is, an indirect subsidiary of PCCW. The shareholder agreement was signed on the same day and will take effect after completion. This transaction will help Hong Kong Telecommunications introduce investors as long-term partners, unlock the value of passive network business, and share future capital expenditures. After the completion of the transaction, the financial performance of the target company will continue to be included...Show More