PCCW Ltd has received eight bids for a 45 pct stake in HKT Group, the holding company it set up for its core media and telecommunications assets, the South China Morning Post reported, citing sources.
A shortlist will be decided as early as tomorrow for a second round of bidding, the sources said.
The 45 pct stake is valued at up to 2.6 bln hkd.
The paper said private equity funds Providence Equity Partners, TPG, Macquarie, Kohlberg Kravis Roberts and Blackstone Group are among the bidders.
China Netcom Group, which owns 20 pct of PCCW, did not submit a bid, the report said.
(1 usd = 7.8 hkd)
Source:XFN-ASIA
