PCCW Ltd. (00008.HK) is looking for acquisition opportunities in India, Europe and the United States to grow its overseas business, the Hong Kong Economic Journal reported Wednesday.
BG Srinivas, who was appointed managing director in July last year, said the company is looking to take controlling stakes in firms engaged in businesses related to multimedia and information technology solutions.
The proportion of PCCW’s business based overseas is likely to surge in the coming three to five years, although 80 percent of the group’s expansion will still rely on organic growth, Srinivas said.
The company may fund the acquisitions with loans, the issuance of rights and other means.
PCCW has five data centers in the mainland. Srinivas said it will collaborate with state-owned enterprises on the building of IT platforms for financial services and micro loans.
In Hong Kong, the company is awaiting the issuance of a free-to-air television broadcasting license, for which it has gained in-principle approval from the government.
PCCW chairman Richard Li Tzar-kai owns the Hong Kong Economic Journal, parent of EJ Insight.
This article appeared in the Hong Kong Economic Journal on March 17.
Translation by Vey Wong.
[Chinese version 中文版]
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