HONG KONG: Britain’s Cable & Wireless plc (C&W) severed its last link with Hong Kong yesterday by selling its entire stake in the territory’s biggest phone company, PCCW Ltd, for up to US$400mil.
The struggling telecoms company, which acquired the PCCW shares when it sold Hong Kong Telecom, announced the sale of the 14% stake a day after reporting a record £6.5bil annual loss and pulling out of the United States.
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