PCCW Limited (00008) and HKT Limited (06823), together with HKT Trust, announced on 9 February 2026 the receipt of an offer from an entity solely controlled by China Merchants Capital Holdings Co., Ltd. (CM Capital) to acquire an additional 9% equity interest in a subsidiary (the Target) and 9% of certain shareholder receivables owed by the Target Group.

The Target, an indirect subsidiary of HKT, operates the Passive Network Business, supplying copper and fibre connection access services in Hong Kong and the Greater Bay Area. The entity offering the Further Investment, CM Silk Road Capital Management Limited, previously acquired a 40% equity interest in the Target and related receivables in June 2024.

Negotiations on the Further Investment are ongoing and may not necessarily proceed. Shareholders of PCCW, holders of share stapled units, and potential investors are advised to exercise caution in dealing in the securities of PCCW, HKT, and HKT Trust. The companies will make further announcements if and when required.