24 May 2019

HKT acquiring CSL for US$2.43 billion, filing says

HKT Ltd. (06823.HK) has entered into an agreement with Australia’s Telstra Corp. and Hong Kong-based New World Development Ltd. to acquire the entire share capital of CSL New World Mobility Ltd. for US$2.43 billion, according to a regulatory filing Friday. HKT will pay US$1.85 billion in cash to Telstra, which owns 76.4 percent of CSL. The remaining stake will be bought from New World Development for US$572.3 million. HKT is a subsidiary of PCCW Ltd. (00008.HK), which is controlled by billionaire Richard Li.

– Contact HKEJ at [email protected]



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