Firm Involved in Privatization of Hong Kong Telecom Company

Skadden is advising Pacific Century Regional Developments (PCRD), in its US$1.9 billion (HK $14.9 billion) offer - with China Netcom - to privatize PCCW Limited, a Hong Kong-listed telecommunications company. PCRD is a Singapore-listed company and China Netcom is a PRC state-owned telecommunications company. Skadden also advised PCRD on the loan financing provided by HSBC to fund PCRD's commitment to the proposed privatization