Patrick Tang

Hong Kong tycoon Carson Yeung said Monday he has offered 57.13 million pounds (94.7 million US) to buy English Premier League team Birmingham City, promising money to buy new players. Yeung, whose Hong Kong-listed Grandtop International has a 29.9 percent stake in the club, said the firm would raise 785 million Hong Kong dollars (100.6 million US) through an open offer of shares for the acquisition. The businessman's latest attempt to seize control of the newly promoted side came after his first bid in 2007 failed to materialise. But he said he was only waiting for the right moment for the takeover. "The club ... Read Full Story

A court Tuesday rejected applications by Hong Kong tycoon Richard Li to overturn a court decision blocking his controversial 2.1 billion US dollar buyout bid for telecoms giant PCCW. PCCW chairman Li moved to appeal in May after a judge ruled against the plan in April, saying a shareholder vote on privatisation had been manipulated. The Court of Appeal Tuesday said it would explain its decision in a written judgement at a later date. The long-running saga has gripped the financial hub, as it pitted one of the city's richest families -- Li's father is Hong Kong's richest man Li Ka-shing -- against minority ... Read Full Story

Hong Kong tycoon Carson Yeung’s takeover of Premier League club Birmingham has been rubber-stamped by the stock exchange. Yeung took charge at St Andrews last month and Wednesday’s announcement that shares in the holding company have been taken off the stock market was a formality confirming Birmingham’s new status as a private business. A statement from the City read: “In line with the notification of the company’s delisting that was made on 14 October 2009, the Company is delisted so that its shares are no longer admitted to trading on AIM.” The statement also confirmed Yeung, Vico Hui and Michael Wiseman as the sole ... Read Full Story

Hong Kong tycoon Richard Li Tuesday lodged an appeal against a court decision that blocked his controversial 2.1 billion US dollar buyout bid for telecoms giant PCCW, a spokesman said. The PCCW chairman, through his investment vehicle Pacific Century Regional Developments (PCRD), gave notice that it will challenge the Court of Appeal's decision to halt the privatisation, a PCRD spokeswoman told AFP. Li's move came a day after a written judgement concluded that a February shareholder vote to take the city's largest fixed-line operator private had been unfairly manipulated. The judgement, which fleshed out an earlier decision, had been keenly awaited by market-watchers to ... Read Full Story

A Hong Kong tycoon abandoned his controversial $2 billion plan to take over the city's biggest telecom company Thursday after a court blocked the deal, handing regulators and minority shareholders a high-profile victory. Richard Li, chairman of fixed-line operator PCCW, said in a statement he and his buyout team would let the proposal lapse rather than extend its date for completion following Wednesday's unanimous decision by a three-judge appeals panel rejecting the effort. Li said he was "disappointed" by the ruling. Shares in PCCW, suspended during days of court hearings, plunged 11.7 percent to HK$3.64. The court's ruling marked the end of a corporate ... Read Full Story