Shaw Brothers (80) suspended trading: possible privatisation
Shaw Brothers suspended trading this morning. According to Ming Pao, this may be due to a possible privatisation by major shareholders. Since the beginning of this year, there have been rumours saying that the chairman of Country Garden (2007), Yeung Kwok Keung, is interested in taking a stake in Television Broadcast Limited (TVB) (511) or a stake in Shaw Brothers (80) which is also a majority shareholder of TVB. This transaction was unfortunately aborted because Country Garden’s share has tumbled a lot this year and the chairman could not get financing from banks.
Will this privatisation bring new management into TVB? We’ll find out soon.
December 15th, 2008 at 12:29 pm
This is actually confirmed. Shaw Brothers released an announcement to the HKEx stating that it is related to “a possible privatization of the Company by the controlling shareholder (i.e. Run Run Shaw) of the Company.