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Transcript of remarks by SCED on proposed acquisition of CSL by HKT

Following is the transcript of remarks by the Secretary for Commerce and Economic Development, Mr Gregory So, to the media after attending the Dongguan-Hong Kong co-operation forum and third anniversary of Hong Kong Professional Services Centre celebration ceremony in Dongguan today (December 20):

Reporter: Do you think the action of Hong Kong Telecommunications (proposed acquisition of CSL Limited) will make the industry become lack of competition?

Secretary for Commerce and Economic Development: The issue here would be decided in accordance with the Telecommunications Ordinance, section 7P in particular. And also I am confident that the Communications Authority will handle it in accordance with the established procedure, including looking at whether there is an effect for substantially lessening competition, and whether the transaction will bring benefit. So I am confident the Communications Authority will weigh all these factors and consider all the relevant elements. Thank you.

Friday, December 20, 2013