South China Morning Post
4 Aug 2008
Tim LeeMaster
Singapore sovereign wealth fund Temasek Holdings plans to join hands with South Korean private equity fund MBK Partners in the quest for a 45 per cent stake in PCCW (SEHK: 0008)'s HKT Group Holdings, as other interested parties begin sounding out partnership possibilities, sources said.
A bid by government-owned Singapore Telecommunications in 2000 for a controlling stake in what became HKT's parent PCCW caused alarm in Hong Kong and Beijing. Richard Li Tzar-kai stepped in soon afterwards with a rival bid that won out.
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