PCCW soap opera finally over?

The ongoing saga involving leading Hong Kong operator PCCW, looks to be finally drawing to a close, as the company prepares to go private.

It is understood that minority shareholders on Wednesday, finally voted in approval of a $2bn buy out offer from Pacific Century Regional Developments by a partnership of 20 per cent PCCW stakeholder China Netcom and Li’s other investment vehicle, Pacific Century Regional Developments (PCRD).

Should this final deal go smoothly, it will mark an end to a decade of controversy and on-again-off-again deal making orchestrated by tycoon Richard Li, son of Asia’s richest man, Li Ka-shing.