Henderson's chairman finances bid for Shaw -paper
HONG KONG, May 26 (Reuters) - Henderson Land's (0012.HK) chairman, Lee Shau-kee, confirmed he is providing HK$3 billion ($385 million) to Country Garden's (2007.HK) chairman Yeung Kwok-keung to finance his bid for indirect control of TVB (0511.HK), a Hong Kong newspaper reported on Monday.
"I admit that I provided the financing to (Yeung)," the South China Morning Post quoted Lee as saying at a briefing in China's Shenyang. "I have no interest in getting involved in the operations of TVB. I'll just treat it as one of my investments."
By owning Run Run Shaw's 75 percent stake in Shaw Brothers 0080.HK, Yeung would hold the firm's 26 percent stake in TVB.
TVB is a dominant commercial television station in Hong Kong with a market value of about $2.84 billion.
Other parties interested in bidding for Shaw Brothers' stake include U.S. private equity funds Carlye and Blackstone, and mainland's Bohai Industrial Investment Fund, the paper said.
"I am supporting Mr Yeung because I don't want TVB to be owned by a foreign company," Lee said. "Foreign investors can do nothing good for TVB's business."
"It's good if TVB is owned by Hong Kong people," Lee added.
Shaw Brothers had said earlier in May that its controlling shareholder was in talks to sell a stake in Shaw.
The banking facility for the potential purchase was originally targeted to be roughly HK$10 billion ($1.28) but that is now expected to be reduced, according to banking sources familiar with the deal. (US$1=HK$7.8) (Reporting by Donny Kwok; Editing by Ken Wills)
