The row between ATV's shareholders shows no sign of easing, with Taiwanese snack tycoon Tsai Eng-meng not prepared to withdraw his legal action against Payson Cha Mou-sing, who has hit back at accusations by media and tobacco tycoon Charles Ho Tsu-kwok. Cha held a press conference in Beijing yesterday - less than 24 hours after Tsai's meeting with the media in Hong Kong on Monday. Cha said that he wanted to sit down with Tsai and settle the dispute over control of the station but now had to respond since Tsai was suing him. 'I would like to invite Mr Tsai to co-operate if he wants,' Cha said. On Monday, Tsai said Cha had gone too far in his accusations against him, after Tsai's company San Want Media Holdings filed a statement of claim in the Court of First Instance that Cha and his brother and fellow shareholder Johnson Cha Mou-daid had breached their fiduciary duty. Cha later said that Tsai was being unreasonable and unjust, and yesterday followed up, saying that Tsai's action was not in the best interest of ATV. 'If he's interested in settling the dispute and working together for the good of the company, then we should all sit down and talk,' he said. In response to Cha's latest remarks, Tsai said now that the disputes had entered legal proceedings, it was up to the court, and he had to discuss with his lawyers whether to drop the lawsuit. However, he said that anything could be discussed under the shareholders' agreement. Cha was also accused by Ho over a Sing Tao deal that happened 10 years ago. Ho, who made an unscheduled appearance at Tsai's press conference on Monday, revealed that the Sing Tao deal had upset his grandfather Ho Ying-chie, who owned one of the world's largest tobacco companies, Hong Kong Tobacco Co. In an interview with East Week magazine, Ho said that in 1998 when Hong Kong was hit hard by the Asian financial crisis, the then Sing Tao chairwoman Sally Aw Sian was struggling with a debt of HK$294 million she owed to the Ho family. Ho said he was authorised by his grandfather to handle the situation. Ho said that Cha called him at least three times to discuss Cha's potential investment in Sing Tao, and had arranged one evening to sign a contract to buy in. But at about 4pm, Cha asked to meet at about 5pm at the Conrad hotel. Ho said that during the meeting, Cha listed numerous reasons for not investing in Sing Tao. 'I was speechless,' Ho said. Ho broke the bad news to his grandfather at 3am. 'Even though I told my grandfather that late at night, I was still scolded by him,' Ho said. 'How can I forget this incident?' Despite Ho's account of the negotiation process of the Sing Tao deal, Cha said he believed he had not talked with Ho at that time. 'I have searched all past records and found that I have never done any business deal directly with him. The only occasion which might have involved him was when I was interested in buying Sing Tao. At that time I signed a confidentiality agreement and then read its financial records. After that I didn't proceed [with the investment plan],' Cha said. 'When one reads company financial documents in such a situation, one has a legal responsibility to maintain confidentiality. So I believe that I didn't interact with Mr Ho.' Cha said he had not had contact with Ho since the newspaper boss weighed in on Monday. 'I have only indirectly heard that he feels betrayed by me,' he said. 'I don't understand why he is so angry.' Meanwhile, Shenzhen property tycoon Wang Zheng , who has signed a deal with Cha to invest more than HK$2 billion in ATV over 20 years to turn the struggling broadcaster into Asia's CNN, said he hoped to hire more staff after finalising his investment. He said that his plan to take over ATV had not been affected by the row between shareholders. He added he respected the broadcaster's editorial independence and would not intervene in programming. Cha said: 'I very much thank Mr Wang Zheng. Under such bad circumstances, he still invests in ATV. Since there is such a good investor, I will do my best to support him.' ATV senior vice-president Kwong Hoi-ying said Wang's takeover would not affect the broadcaster's plans, such as producing its own drama series. He said that ATV's performance in February had shown a drastic improvement over the past few years, with a lot more advertising. But he declined to say whether ATV was still in deficit. The government has yet to receive any application for changing the shareholding structure of ATV. War of words Payson Cha On the lawsuit against Tsai Eng-meng 'It's Mr Tsai who is suing me, not me suing Mr Tsai. If he is interested in settling the dispute and working together for the good of the company, then we should all sit down and talk. Is the victim him or me now? I will let you [reporters] judge.' On disputes with Charles Ho over Sing Tao takeover 'I haven't directly interacted with him. I have only indirectly heard that he feels betrayed by me. I don't understand why he is so angry.' Charles Ho On the lesson he learnt from Cha's last-minute decision not to invest in Sing Tao 'Even though I told my grandfather that late at night, I was still scolded by him. How can I forget this incident?'