HK judge rebukes Li over shareholder vote -FT
LONDON |
LONDON May 11 (Reuters) - Hong Kong-based tycoon Richard Li was rebuked by a judge for a "clearly manipulated" shareholder vote approving the attempted $2 billion buyout of his telecoms company PCCW (0008.HK), the Financial Times reported on Tuesday.
In a 74-page ruling outlining reasons for its decision to block the transaction, a Hong Kong court said PCCW minority shareholders had not been treated fairly in the buyout, the FT said.
Hong Kong's appeals court blocked the buyout last month, overturning an April 6 High Court decision allowing the deal to go ahead. [ID:nHKG148241] (Reporting by David Holmes)
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