PCCW decision: reform Hong Kong privatisations

Author: | Published: 1 Jun 2009

Following the prohibition of PCCW's attempted privatisation in Hong Kong, talk is turning to the schemes of arrangement often used to privatise companies – and essential reforms.

At the end of April, Hong Kong's Court of Appeal overturned a previous ruling and banned PCCW's privatisation, after hearing allegations that shareholders split votes to help PCCW win the headcount rule necessary to approve a scheme of arrangement.

"I do think it is time to reconsider the headcount rule and whether the...