HKT Announces $870 Million Subsidiary Sale

HKT and HKT (HK:6823) has released an update.

HKT and its indirect subsidiary have entered a deal to sell their subsidiary interests to an investor for a hefty $870 million, payable in cash. This strategic move will keep the target company as an indirect subsidiary of HKT, ultimately under the umbrella of parent company PCCW. The transaction, based on robust financial multiples, indicates a premium valuation compared to HKT’s own market metrics.

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