PCCW: Transaction over HK$2000 mln to be approved by shareholders

PCCW saw negative equity after writing off for goodwill. According to listing regulations, any enterprises with negative equity should get approval from shareholders before carrying out acquisition, not matter how much capital is involved in. Otherwise the enterprise should be exempted by HKEX. Richard Lee, chairman of PCCW said the company had applied for exemption 4 or 5 months ago and had been approved to be exempted in transaction of no more than HK$2000 mln 

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