PCCW Split approved by SEHK

Reporter Gu Xiaoyu yesterday that the Hong Kong telecom operator PCCW's spin-off package was approved by the SEHK after a major modification and may become the first company to be listed as a commercial trust in Hong Kong.　　PCCW's control is "Little Superman" Richard Li, which mainly includes communications, corporate solutions, media and property operations by holding a 51.53% per cent stake in the surplus land. Under the approved spin-off scheme, the division of PCCW only involved telecommunications.　　After the break-up, PCCW retains control of the telecommunications business, retains its controlling interest in the surplus land and holds a 100% interest in the business and media business respectively. Although approved by the SEHK, the break-up of PCCW will require the approval of the second largest shareholder, China Unicom, and the shareholders ' approval. The small shareholder Union expressed frustration and incomprehensible that PCCW was allowed to split up.