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| Name | Symbol | Market | Type |
|---|---|---|---|
| PCCW Limited New (PK) | USOTC:PCCWY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.03 | -0.62% | 4.80 | 4.71 | 5.11 | 4.92 | 4.80 | 4.92 | 1,737 | 18:00:13 |
From Jul 2019 to Jul 2024
HONG KONG-- PCCW Ltd. said Monday it withdrew from discussions to purchase a stake in video-streaming site Dailymotion from Orange SA after the French economy minister spoke out in opposition to the bid from the Hong Kong-based telecommunication company.
"[A]n environment where policies appear to favour a French or European solution is discouraging for international business participation," PCCW said in a statement. "We will therefore withdraw from our discussions with Dailymotion and its current owners."
PCCW, the telecom company controlled by Richard Li, the son of Hong Kong tycoon Li Ka-shing, made an offer to buy a 49% stake in the video-streaming site that would have valued Dailymotion at about EUR250 million ($264.5 million) including debt, a person familiar with the situation said in March.
Write to Rick Carew at rick.carew@wsj.com
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