PCCW sale update, numerous bids

Chris Forrester ©RapidTVNews | 14-07-2008

nowtv.jpgThere are some serious bidders looking to acquire a portion of Richard Li’s Hong Kong-based PCCW media spin-off, HKT and Now TV (pictured, left). Closing date was July 14, and it is known that Texas Pacific Group is a confirmed bidder. 

But there are other names in the frame, not least Blackstone, KKR, Providence Equity and Aussie banking and investment group Macquarie as well as China Netcom (which already owns 20% of PCCW). The talk locally is that US$3bn (for 45%) is being looked for, and the asset includes the fixed-line phone network, HKT.

Now TV offers a la carte channels via IPTV. 

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