Summary Translation of Press Cutting from Ta Kung Pao dated 17 March 1988
Author: TONG Yuk-hon
Title: Shares in Television Companies
The Government has recently
conditions
for renewing the licence
Before making the
announced
the
of the television
official
companies.
revealed that there would be more
an announcement,
restrictions
shareholding by foreigners.
However,
on
the new conditions
in a way blur the nationality restrictions on shareholding
- in television companies.
2.
The licence issuing conditions provide that in a
television company the total number of shares held by
foreign interests
shall
exceed not
49% (this
is
the
existing condition) and any single foreign shareholder
not Own or
control
shall
capital of the television
a
more
television
company
than 10%
This company.
is
of
the
shows
share
that
an
important
shareholding in matter of public interest. That official also said that, according to the research by the Broadcasting Authority, countries like Britain, the USA, Australia and New Zealand
have more stringent conditions than Hong Kong regarding
shareholding by foreign companies.