SFC may probe PCCW

Hong Kong: The Hong Kong High Court yesterday allowed local securities regulator, the Securities and Futures Commission (SFC), 21 days to gather evidence related to the alleged vote rigging during the privatization program of telecom firm PCCW.

Minority shareholders can file their responses to the investigation within seven days of the SFC submitting its report. The case would be heard by end March or early April.

The privatization of PCCW was scheduled for hearing yesterday following the company's approval of a buyout bid by a consortium led by PCCW chairman Richard Li during an extraordinary general meeting on Feb 4.