HONG KONG: Television Broadcasts Ltd (TVB) , Hong Kong's largest TV network, said its controlling shareholder was in talks with interested parties on a possible sale of its nearly 30 percent stake in the company.
In a filing with the Hong Kong bourse late on Monday, Sept 27 TVB said Shaw Brothers currently holds 113.9 million shares or a 26 percent stake in the free-to-air TV network.
Henderson Land Development's <0012.HK> spokeswoman, Bonnie Ngan, on Monday confirmed that Vice Chairman Peter Lee Ka-kit has launched a "preliminary study" on TVB, which is controlled by the family of 102-year-old media magnate, Run Run Shaw.
The deal could cost Lee, the elder son of Henderson Chairman Lee Shau-kee, more than HK$9 billion ($1.16 billion), local media reported. TVB was valued at about $2.2 billion, according to Thomson Reuters data.
TVB shares, which were suspended on Monday after surging 17 percent, will resume trading on Tuesday. - Reuters
In a filing with the Hong Kong bourse late on Monday, Sept 27 TVB said Shaw Brothers currently holds 113.9 million shares or a 26 percent stake in the free-to-air TV network.
Henderson Land Development's <0012.HK> spokeswoman, Bonnie Ngan, on Monday confirmed that Vice Chairman Peter Lee Ka-kit has launched a "preliminary study" on TVB, which is controlled by the family of 102-year-old media magnate, Run Run Shaw.
The deal could cost Lee, the elder son of Henderson Chairman Lee Shau-kee, more than HK$9 billion ($1.16 billion), local media reported. TVB was valued at about $2.2 billion, according to Thomson Reuters data.
TVB shares, which were suspended on Monday after surging 17 percent, will resume trading on Tuesday. - Reuters
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