Hong Kong’s fixed line incumbent PCCW has hired UBS to help it sell a stake of up to 45% in its core businesses. The news follows an announcement late last month by the telco that it will amalgamate three of its core businesses – telecoms, media and information technology – into a newly created subsidiary, HKT Group Holdings, and offer 45% of the new company to investors. PCCW has said that proceeds from the proposed sale could be invested in further growth initiatives in telecoms, media and technology.

 Source:telegeography