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Hong Kong's PCCW Taking Second Look at EMI Acquisition
Hong Kong's telecoms and internet firm Pacific Century Cyberworks (PCCW) is reportedly showing renewed interest in acquiring British music giant EMI Group PLC, the New York Times reported.
The Times, citing sources close to PCCW in its online edition on Friday, said the Hong Kong firm was taking a second look at a possible acquisition, after EMI and Warner Music abandoned merger plans on Thursday in the face of regulatory objections by competition authorities in the European Commission.
The report said PCCW lacked sufficient funds to complete the merger on its own and added that Bertelsmann AG of Germany was also understood to be watching the situation with renewed interest. (Source: chinadaily.com.cn)
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