Hong Kong police have waded into the saga surrounding last year's aborted buy-out of PCCW, the telecoms operator headed by Richard Li, by quietly executing search warrants at companies and executives involved in the matter.
People familiar with the inquiry said officials from Hong Kong's Commercial Crime Bureau searched offices at PCCW and Fortis Insurance (Asia) this month.
The news sent PCCW shares down 2.4 per cent on Monday against a 2.3 per cent rise in the Hang Seng index.
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