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I-Cable Communications fall 38 pct as parent plans exit
March 10, 2017 / 1:37 AM / 8 months ago

I-Cable Communications fall 38 pct as parent plans exit

HONG KONG, March 10 (Reuters) - Shares of I-cable Communications Ltd are set to open 37.6 percent down after parent Wharf (Holdings) Ltd said it would not renew funding commitments to the firm on expiry.

The stocks is set to open at HK$0.58, the lowest since Jun. 13.

Wharf said it would not provide further funding to the company on expiry of the current commitments and had no intention to increase its stake in the firm, exiting its investment in pay television and broadband internet businesses.

Wharf also said it had terminated all discussions regarding sales of I-Cable.

Wharf shares are set to open up 4 percent. (Reporting by Donny Kwok; Editing by Richard Pullin)

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