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PCCW holders OK C&W merger

Pacific Convergence Corp. to launch NOW this week

HONG KONG — Pacific Century CyberWorks (PCCW) shareholders have unanimously voted in favor of the proposed merger with Cable & Wireless HKT. The Internet company, headed by billionaire Richard Li, is confident that shareholders of the telco giant will follow suit on July 3.

In February, Li outbid Rupert Murdoch’s Star and Singapore Telecommunications to acquire HKT. Two months later his company completed a $12 billion syndication loan with 33 banks.

PCCW unit Pacific Convergence Corp. is expected to launch its Network of the World (NOW), an integrated Internet and digital video content service, this week.

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