The street is a buzz with speculation that Richard Li who runs PCCW, Hong Kong's biggest telco is interested in obtaining a foothold in Television Broadcasts Ltd. But, cash strapped at PCCW.
Is it any surprise then that the deep pocketed Macquarie Media Group from Australia is in contact with PCCW to buy its telco assets comprising the biggest fixed line network in Hong Kong, Sunday Mobile Phone and "now Broadband" service.
PCCW and Sunday shares were suspended for a time on the Hong Kong Stock Exchanges.
Last year, Macquarie bought Taiwan Broadband Communications for US $1.2 billion, giving it a 12 per cent of the Taiwan cable TV market, the third-biggest in Asia.
PS. It is also doing the rounds in Hong Kong, that the powers that be in Beijing have not been entirely happy with the way PCCW has been going.