Many twists and turns have occurred in the PCCW privatization saga since David Webb, corporate white knight, first blew the whistle on alleged vote-rigging in January. Kudos to him, minority shareholders of PCCW are getting a reprieve from the latest court verdict. Not only do they have good cause to celebrate over the Court of Appeal judgment that overturned the High Court’s approval of the privatization, but all Hong Kong people should have reason to rejoice in that we’ve come to know that there are shrewd and conscionable judges in our independent judiciary system. Giving credit where credit is due, the Hong Kong Securities and Futures Commission does deserve a pat on the back for aptly carrying out its vested duties as a corporate watchdog on this case.
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