PCCW to Buy Half of China Netcom Broadband
September 02, 2005
PCCW announced that it will acquire 50% of China Netcom Broadband, a subsidiary of China Netcom Group. The Hong Kong operator, 20% of which is currently owned by China Netcom, will pay HK$305 million (US$39.3 million) for the stake in an effort to expand beyond its saturated home front and into China.