PCCW

The FCC is intensifying scrutiny of Hong Kong-based HKT Trust and HKT Ltd due to national security concerns, initiating proceedings that could block their interconnection with U.S. networks. This follows similar actions against other Chinese telecom companies. HKT’s shares declined on the news. The FCC’s action reflects growing U.S. concerns about Chinese influence and security risks, particularly for companies with ties to the Chinese government, amidst escalating trade tensions. PCCW, HKT’s parent, is majority-owned by Richard Li, placing the company at the center of US-China geopolitical rivalry.