PCCW meeting to go ahead
04-02-2009
PCCW says its shareholder meeting will proceed today, despite allegations that shares were offered to insurance agents in return for support for a privatisation bid. Shareholders will vote on whether to accept a privatisation offer from chairman Richard Li and China Netcom. The firm said it had no knowledge of improper share transfers, but was making inquiries about recent media reports. Trading in PCCW shares resumed this afternoon. They ended up 7.8 percent - at HK$4-17. Trading was suspended yesterday after shareholder activist, David Webb, told regulators he had received an anonymous email alleging irregularities.
