The PCCW Privatization: A Guide To The Applicable Law For Schemes Of Arrangement

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The PCCW Privatization: A Guide To The Applicable Law For Schemes Of Arrangement

Allegations of share splitting in the proposed privatization of

PCCW have raised an important question as to how the statutory

majority to approve a scheme of arrangement should be determined.

This question is significant both in the short-term for investors

trading PCCW and in the long-term in the context of future schemes

of arrangement. In this article, we examine the applicable laws and

regulations with a view to providing hedge funds and other

investors with guidance.

The proposed privatization of PCCW Ltd. ("PCCW") by

Starvest Ltd. and China Netcom Corporation (BVI) Ltd. (together

"Joint Offerors") ...

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