Global operator strategies - 15/11/06

Telefonica has bought almost 8% stake in local phone operator PCCW. Helped by two charitable foundations (12% stake) and a HK businessman Francis Leung (2.7% stake), they will have a controlling stake of about 23%. Telefonica is already a partner with China Network that owns 20% stake in PCCW. Telefonica and China Network will transfer their interests in PCCW to a special purpose vehicle (SPV) that could become the single largest shareholder of PCCW with a 28% stake.

The Belgian government asked Belgacom to look for strategic partners, but Belgacom CEO said 'nothing cooking' regarding KPN.