HKT and HKT (HK:6823) has released an update.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
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.
For further insights into HK:6823 stock, check out TipRanks’ Stock Analysis page.