PCCW Global and CAT sign MoU

PCCW Global and CAT sign MoU

Hong Kong telco PCCW Global and Thai company CAT Telecom have signed a Memorandum of Understanding (MoU) to support the launch of CAT’s Point of Presence (PoP) in Hong Kong and entrance into the Chinese market.

In return, PCCW, the global arm of PCCW, will leverage CAT’s expertise in order to enter the Thai market.

Sompol Chanprasert, CAT’s senior EVP of broadband business, has identified that the MoU with PCCW will give CAT greater opportunities in the global market. “Hong Kong is not only Asia’s financial and trading hub, but also the gateway to mainland China,” he said.

PCCW has also recently tried to list its telecommunications business on the Hong Kong stock exchange but was rejected by the Hong Kong stock exchange committee. According to Bloomberg, this was PCCW’s seventh attempt to turn its assets into a separate listed trust since 2006, as the company looks to restructure and generate funds to reinvest into faster growing businesses; PCCW’s fixed line sales fell by 9.8% in the second half of last year.

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