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Hong kong telecom

The meaning of «hong kong telecom»

HKT Limited (Chinese: 香港電訊有限公司; Cantonese Yale: Hēunggóng dihnseun yáuhhaahngūngsī), also known as Hong Kong Telecom (Chinese: 香港電訊; Cantonese Yale: Hēunggóng dihnseun), is one of the largest telecommunications company of Hong Kong. It has a dominant position in fixed-line, mobile, IDD and broadband services in Hong Kong. HKT Group is a subsidiary of PCCW since 2000, after it was acquired from Cable & Wireless plc.

The company, along with HKT Trust (Chinese: 香港電訊信託), is a pair of listed corporations in the Hong Kong Stock Exchange, which the two corporations were bundled as one single stapled security.

The former holding company of the group was Cable & Wireless HKT Limited (Chinese: 香港電訊有限公司; former ticker symbol: 8), it was a subsidiary of Cable & Wireless plc. It was taken over and privatised by PCCW in 2000.[3] PCCW also started to use the ticker symbol "8" after the takeover. Cable & Wireless HKT Limited was formerly known as Hong Kong Telecommunications Limited (Chinese: 香港電訊有限公司), which was incorporated in 1987;[4] it was renamed to Cable & Wireless HKT Limited in 1999,[4] but renamed again to PCCW-HKT Limited in 2000;[4] PCCW-HKT still use the same registered Chinese name (香港電訊有限公司) until 2011, which in the same year the Chinese name became the registered Chinese name of HKT Limited instead.[4]

PCCW-HKT had a major subsidiary PCCW-HKT Telephone Limited (Chinese: 香港電話有限公司),[5] which was incorporated in 1925 under the name Hongkong Telephone Company, Limited;[4] it was briefly known as Cable & Wireless HKT Telephone Limited (Chinese: 香港電話有限公司) from 1999 to 2000.[4] As of 31 December 2017[update], PCCW-HKT[2]: 80  as well as PCCW-HKT Telephone were still live, wholly owned subsidiaries of PCCW.[2]: 78  However, the telephone services is now provided by HKT's wholly owned subsidiary Hong Kong Telecommunications (HKT) Limited instead,[6] after a group restructure in 2008.[7]

In October 2011, PCCW shareholders approve a partial spin-off of the assets as HKT on the Hong Kong stock exchange (but excluding the two legal persons PCCW-HKT and PCCW-HKT Telephone). HKT is successfully listed on 29 November 2011, as HKT Limited and HKT Trust.[8][9] HKT Limited was incorporated in the Cayman Islands, while its direct parent entity, HKT Trust, was set up in Hong Kong under the laws of Hong Kong.[6]

Domestic telecommunications facilities in Hong Kong became more advanced in 1925 when the Hong Kong Telephone Company Limited (HKTC) took over the interests of John Pender's China and Japan Telephone and Electric Company. The company's mandate included providing all the British colonies with local telephone services. Over the next six decades Hong Kong Telephone's line capacity grew to more than 2.5 million, with the company serving approximately six million people.[10]

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