PCCW Ltd said it has short-listed some parties for acquiring 45 pct stake in the new holding firm for its core telecom and media operations.

It said it will provide necessary documentation to short-listed bidders to enable due diligence.

PCCW, Hong Kong's top telecom operator, announced in May that it plans to consolidate its telecom operations, media and IT services into a new entity, HKT Group Holdings Ltd (HKT), and then seek to divest a stake of up to 45 pct in it to third parties.

PCCW said in today's statement that intends to maintain dividend payments at, or above, current levels even after the planned stake sale.

At 3:18 pm, PCCW shares were down 0.01 hkd or 0.21 pct at 4.76.

(1 usd = 7.8 hkd)

Source:XFN-ASIA