First Pacific to merge two telecoms businesses in HK
FIRST Pacific is to merge its Hong Kong telecommunications businesses, the company said yesterday.
First Pacific took a further five per cent of Pacific Link Communications at the end of November to extend its control to 65 per cent of issued shares.
It also took another small bite of Pacific Telelink, taking its holding to 65 per cent. With the other 35 per cent of both companies held by Vodaphone of the United Kingdom, the way was clear for a merger, a company statement said yesterday.
The merger will involve Pacific Link, one of Hong Kong's four cellular operators, merging with the paging and CT2 associate under the leadership of Henry Goldstein, current managing director of Pacific Link. The new entity will be called Pacific Link Communications.
Michael Pilgrim, current chief executive of Telelink, will become a director of Smart Communications.