TNAG-1817-FCO40-2578-Broadcasting-in-Hong-Kong-1988 — Page 211

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.