Word: hongkong
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Dates: during 2000-2009
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When Britain's Cable & Wireless, which owned 54% of Hongkong Telecom, announced its intention to spin off non-core businesses like HKT, Richard realized that HKT had assets he could use. Chief among them: its broadband Internet service, which has 100,000 customers; its cellular-phone system and the potential of new, third-generation cellular technology to enable Internet access; and rights to a valuable deal signed by Murdoch's Star TV to provide television shows for HKT's broadband network. He eventually offered shareholders a package of shares and cash that could cost him $12 billion...