New World takes legal action against Davnet

In its effort to blame New World Development for the breakdown of plans to take a stake in the company''s telephone business, Davnet of Australia may have stirred up more trouble than it bargained for.

Toni Clarke

June 01, 2000

New World Development, one of Hong Kong's largest real estate developers, plans to sue Davnet after the Australian telecommunications company called off talks to buy a 74% stake in New World's fixed line telephone business, claiming it was losing revenue, market share and staff.

Sign In to Your Account To Access Exclusive FinanceAsia Content!

Please sign in to your subscription to unlock full access to our premium FA resources.

Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial - no registration fees required. Click the link to get started.

Note: This free trial is a one-time offer.

Questions?
If you have any enquiries or would like a quote for a team or company licence, please contact us at [email protected]. Our subscription team will be happy to assist you.