Reports from London suggest that PCCW will renew an attempt to buy British telecommunications company Cable & Wireless this week. PCCW chairman Richard Li Tzar-kai has been reported as saying he will make another attempt and approach Cable & Wireless (C&W) with a ?2 billion (HK$25.4 billion) bid. 'We are just trying to enhance shareholder value, first and foremost for PCCW shareholders and then for C&W shareholders,' Mr Li was quoted as saying by the Sunday Times newspaper in Britain. The paper said he would approach the C&W chairman Richard Lapthorne this week to make an offer. Another paper, the Independent on Sunday, cited industry sources as saying Mr Li is expected to make a 100 pence-a-share cash offer, a 35 per cent premium to C&W's current price. This comes just a week after Mr Lapthorne rejected an informal approach by PCCW for the 131-year-old firm. PCCW played down the reports on Sunday. The Hong Kong stock exchange is to investigate PCCW over concerns that it misled investors about a $30 billion takeover attempt for C&W. Related stories: C&W still in PCCW's sights Scepticism greets PCCW's Japan foray
