Richard Li flags more synergies from HKT-CSL merger

May 08, 2015 11:40
Richard Li (center) speaks to reporters following an annual shareholders' meeting. Photo: HKEJ

The integration of CSL and HKT Trust & HKT Ltd. (06823.HK) will show up more synergies in the coming two years, HKT chairman Richard Li Tzar-kai said. 

Part of the benefits of the merger is already reflected in the telecommunications firm's financials at the first anniversary of the deal, the Hong Kong Economic Journal cited Li as saying.

HKT has become the largest mobile service provider in the city after the merger.

The company has no further acquisition plans at the moment, and will focus instead on organic growth in mobile, broadband and international businesses, Li said.

Managing director Alexander Anthony Arena said HKT will revise service charges in accordance with its cost structure. However, there are nothing on the table as of now, he said.

Value for money has been the attribute of the company's products, Li said. But the group will not engage in any price war, he said, adding that the strategy will be to compete in terms of quality of services.

Li, who also serves as chairman of PCCW Ltd. (00008.HK), said the holding company's free-television arm Hong Kong Television Entertainment Co. Ltd. has outlined programming plans in preparation for its debut, which will take place before April 1, 2016.

Translation by Vey Wong

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