HONG KONG: PCCW chairman Richard Li has paid HK$198mil (US$25.3mil) to raise his stake in the company after shareholders of his Singapore-listed holding firm rejected the sale of its controlling stake in Hong Kong's dominant fixed-line phone firm.
Li bought 41 million shares on the open market last Friday at an average price of HK$4.841 each, raising his stake in PCCW to 26.99% from 26.38%, the Hong Kong Stock Exchange revealed late on Tuesday.
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