Deals
Billionaire Li Explores Options for Fixed-Line Business
- Richest man in Hong Kong gauges potential buyer interest
- Billionaire’s HGC would fetch at least $1 billion in sale
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Billionaire Li Ka-shing is exploring options for his Hong Kong fixed-line phone business including a potential sale, according to people familiar with the matter, following a similar move by local property tycoon Peter Woo.
Hong Kong’s richest man is gauging interest from potential buyers for Hutchison Global Communications Ltd., the people said, asking not to be identified because the discussions are confidential. The company, which offers services for corporate customers over its fiber-optic network in the former British colony, may fetch at least $1 billion, the people said.