HK's PCCW hits 4-mth peak on report it is mulling fiber business stake sale

Pccw

24/11/2023 03:43

** Shares of telecommunications and technology group PCCW
Ltd  0008.HK  climb 2% to HK$4.02, their highest since July 31
    ** Stock set for the biggest one-day pct rise since Oct. 16,
if gains hold; biggest pct gainer in Hang Seng Composite Index
on telecommunication stocks  .HSCIT  
    ** PCCW is mulling sales of $1 bln stake in fiber business,
Bloomberg reported citing people familiar with the matter; the
asset has drawn interest from Chinese investors and Middle
Eastern sovereign wealth funds, it added 
    ** Hang Seng Composite Index on telecommunication stocks
 .HSCIT  gains 0.1% while Hang Seng Index  .HSI  falls 1.6%
    ** Stock up 13.1% YTD 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))