By MarketWatch
LOS ANGELES (MarketWatch) — Asian telecom stocks traded higher Monday, but with bigger moves expected in European and U.S. markets following news AT&T Inc. plans to buy T-Mobile USA from Deutsche Telekom AG for about $39 billion in cash and stock.
With Japanese bourses closed for a holiday Monday, investor focus was on Hong Kong, where local telecom major PCCW Ltd. (HK:8 3.42, +0.14, +4.27%) (PCWLF 0.41, +0.02, +5.90%) rose 4.3% after saying in a stock-exchange filing it’s “exploring the feasibility of a spin-off and separate listing of its telecommunications business in the form of a listed business trust.”
By MarketWatch
LOS ANGELES (MarketWatch) — Asian telecom stocks traded higher Monday, but with bigger moves expected in European and U.S. markets following news AT&T Inc. plans to buy T-Mobile USA from Deutsche Telekom AG for about $39 billion in cash and stock.
With Japanese bourses closed for a holiday Monday, investor focus was on Hong Kong, where local telecom major PCCW Ltd. (HK:8 3.42, +0.14, +4.27%) (PCWLF 0.41, +0.02, +5.90%) rose 4.3% after saying in a stock-exchange filing it’s “exploring the feasibility of a spin-off and separate listing of its telecommunications business in the form of a listed business trust.”
