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Telecom giants blast M&A draft code.
(From The Standard)
Byline: Georgina Lee
Draft guidelines on mergers and acquisitions (M&A) issued by the Telecommunications Authority have an ``anti-merger'' flavour, telecom service providers said.
The companies, including Hutchison Telecom and PCCW, said the authority had ignored the benefits of mergers and acquisitions and focused on the negatives. Their comments were made at a Legislative Council panel meeting yesterday.
The draft guidelines will become part of provisions under the Telecommunications (Amendment) Ordinance 2003. ``The draft codes are skewed towards the negative impact of mergers and acquisitions. We believe that the …
