January 27 -- Television Broadcasts (0511.HK) filed on January 26 that major shareholder, Shaw Brothers (Hong Kong), sold a 26 percent stake in the company to a consortium comprising Charles Chan, Cher Wang and Providence Equity Partners, reports 163.com.
According to rumors in the market, the total consideration for the stake may be HK$6.5-9.5 billion.
Run Run Shaw will remain as the chairman of Television Broadcasts while his wife, Mona Fong will remain as the vice chairman.
The deal is expected to be completed before March 31.
After the completion of the deal, Shaw Foundation (Hong Kong), Mona Fong and the consortium will jointly hold a 30 percent stake in Television Broadcasts.
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