PCCW warns of possible dividends cut
08-12-2008
PCCW has warned its minority shareholders that it may cut its dividend payment if they reject the joint takeover proposal by Chairman Richard Li and China NetCom. The company made the statement in an attempt to persuade its shareholders to vote for the plan later this month. The two biggest shareholders proposed last month to pay just under 15 billion dollars to buy the remaining shares of PCCW at 4 dollars and 20 cents each. PCCW shares closed 3.6 percent higher at 3 dollars and 72 cents today.
