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July 8, 1990

CBALE & WIRELESS SHARES FALL 21 POINTS

By CBR Staff Writer

Hong Kong tycoon Li Ka Shing, who owns Hutchison Telecommunications has sold his 51.5m shares in Cable & Wireless Plc, held through Hutchison Whampoa Ltd: according to the Evening Standard the 5.8% stake was placed with institutional clients at 518 pence a share by Smith New Court; Ka Shing bought the shares hoping to collaborate with Hong Kong Telecom Ltd over AsiaSat, but as this co-operation has not materialised he has liquidated his holding – Cable & Wireless shares fell 21 points to 527 pence on Friday.

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