HKT eyes smooth takeover of CSL New World Mobility
HKT confident of smooth merger with CSL New World Mobility, making it the city's biggest wireless network services provider
HKT Trust and operating arm HKT, which posted strong gains in revenue and net profit last year, expects a successful integration of CSL New World Mobility after the US$2.43 billion acquisition receives all the necessary approvals.
Alex Arena, HKT's group managing director, yesterday declined comment on the strategy for that merger as parent PCCW will hold an extraordinary general meeting to vote on the deal.
PCCW holds 63.07 per cent of the share stapled units of HKT Trust and HKT, which represent the telecommunications assets of Richard Li Tzar-kai's corporate flagship.
Arena pointed out that HKT, through its international operating division PCCW Global, has already gained valuable experience in the integration of the carrier unit of Gateway Communications, which the company bought in 2012 for a reported US$26 million from South African-based Vodacom.
"We integrated the Gateway business, which has headquarters in London and facilities in Brussels and in Africa. Surely, if we can successfully integrate a business which is outside of Hong Kong, we should be able to do a good job for a business within Hong Kong," Arena said.
"Historically speaking, we know a few things about CSL. I seem to remember selling the CSL business a few years ago. It hasn't fallen far from the tree, right?"
