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 [转帖- WSJ] Murdoch 也来搀和电讯盈科 (PCCW) |
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gui
头衔: 海归上校
声望: 学员
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加入时间: 2006/05/16
文章: 136
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作者：gui 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
[转载着注] 我这隔三差五地灌 PCCW的消息，就够烦人的；这不，这默老头也来搀和了。
转自 Wall Street Journals
Murdoch May Join Macquarie Bid
By KATE LINEBAUGH
June 29, 2006; Page A10
HONG KONG -- A unit of Rupert Murdoch's News Corp. has had discussions about joining Macquarie Bank Ltd.'s bid for the core assets of PCCW Ltd., potentially injecting a media heavyweight with a long history in China into the contentious acquisition battle.
Star Group, a wholly owned subsidiary of News Corp., has "had some talks with Macquarie" about participating in its bid for the telecommunications and media assets of Hong Kong's dominant phone company, according to a spokeswoman for Star Group, who declined to comment further. The Macquarie bid is worth more than $7 billion, people familiar with the matter have said.
In an interview today with a News Corp.-owned newspaper, the Australian, Mr. Murdoch confirmed the company had held talks with Macquarie but expressed skepticism about the prospects of Macquarie's bid. A person close to the situation said if News Corp. decides to join the bid, it would take a stake "in the low single digits" in percentage terms. That suggests News Corp.'s contribution could be as little as $100 million. Macquarie declined to comment.
PCCW's telecommunications and media assets came into play last week when the Hong Kong company said it had received one bid, that of the Macquarie-led consortium, which in turn drew another offer, from private-equity firm Texas Pacific Group and its Asian affiliate, Newbridge Capital Group.
The bidders face a major stumbling block, with China Network Communications Group, a Chinese state-owned phone operator with a 20% stake in PCCW, publicly opposing the sale. While PCCW doesn't legally need China Netcom's approval for the deal, it is unlikely that the bidders would proceed with a transaction in the face of opposition from a company owned by the Chinese government, as that could hamper future business dealings in China.
The bidders are trying to structure deals that would be acceptable to Beijing, which itself is sensitive about being seen as interfering in the affairs of Hong Kong, a former British colony now under Chinese rule but with its own economic and political systems. In trying to win the support of China Netcom, Macquarie has offered the Chinese firm as much as 50% of the new company and promised to sell at least 25% of the company to the Hong Kong public.
Whether involving Mr. Murdoch would work in Macquarie's favor is unclear. Mr. Murdoch had been on the board of China Netcom's Hong Kong-listed subsidiary until September and has been retained as an adviser. Since then, China Netcom's Hong Kong unit has gone through some management changes, including the resignation of Edward Tian, the chief executive.
Mr. Murdoch has a long relationship with PCCW Chairman Richard Li. News Corp. bought Star Television Ltd., an Asian satellite-TV network developed by the Mr. Li, in 1993. Now, Mr. Murdoch may end up buying again from Mr. Li.
PCCW's broadband-delivered TV service might appeal to Star, which has wide-ranging regional TV and cable businesses. PCCW delivers about 100 TV channels -- including several from Star TV -- to about 550,000 households. The company expects the TV service to turn profitable later this year for the first time.
Separately, News Corp. lowered its forecast for operating-income growth in fiscal 2006 to 8% from 12%, citing a delay in the sale of property in the United Kingdom.
作者：gui 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 [转帖- WSJ] Murdoch 也来搀和电讯盈科 (PCCW) -- gui - (3585 Byte) 2006-6-29 周四, 22:32 (812 reads)
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