PCCW has decided to abandon its privatisation plan by letting the buyback offer lapse. On the other hand, Richard Li has told Bloomberg that he hasn’t decided whether he would appeal the ruling made by the Court of Appeal. As a result, PCCW share price dropped 13% today.
On another note, PCCW has declared a special dividend of HKD 1.3 per share. This is good news for minority shareholders as they are actually getting something at the end.
