ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Business

Hong Kong's Wheelock to exit struggling media business

Subsidiary's shares jump nearly 10% in Friday trading; Wheelock up 7%

Wharf Chairman and Managing Director Stephen Ng Tin-hoi, center, says that the business of i-Cable Communications is unlikely to see a turnaround in the short- to medium-term. (Photo by Jennifer Lo)

HONG KONG -- A subsidiary of Hong Kong-listed developer Wheelock has decided to end funding for its pay TV operator in a bid to focus on property development, leaving the fate of its loss-making business up in the air.

Wharf Holdings, a 58%-owned subsidiary of Wheelock, announced on Thursday that it had stopped discussions with potential buyers on the sale of i-Cable Communications.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more