HONG KONG: Hong Kong fixed-line phone company PCCW Ltd, in a move to return to the mobile phone business, said yesterday it will offer up to US$200mil to take over Sunday Communications Ltd, the smallest of the city’s six fiercely competitive cellular operators.
Sunday had 660,000 subscribers at the end of 2004, and a market value of $203mil. Its shares rallied by 10% on Friday and were suspended yesterday, as were PCCW’s.
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