The Li Family's Latest U.S. Setback As The FCC Targets HKT

• First it was the Li family’s, via CK Hutchison Holdings (1 HK), investment in two Panama ports, which raised the ire of the U.S. government. And remains unresolved.

• Now the U.S.’s Federal Communication Commission (FCC) has taken the initial step to “expel Hong Kong Telecom” - i.e. HKT Ltd (6823 HK) - from the US telecommunication network.

• The FCC order cites HKT’s affiliation with black-listed China Unicom (762 HK). Unicom holds a 18.4% stake in PCCW (8 HK), HKT’s parent. A stake it acquired twenty years ago.