Forever Top (Asia) expects to complete the takeover of i-Cable Communications (1097) tomorrow, Wharf Holdings (0004) chairman Stephen Ng Tin-hoi said yesterday.
He said he will leave the i-Cable office along with two other directors tomorrow, and Forever Top will direct the restructuring of its board.
Ng said the takeover process went well and there was no discussion of downsizing i-Cable. He believes Forever Top will raise i-Cable to new heights, which will be positive for both the firm and its employees.
The Communications Authority approved the takeover on Tuesday and Forever Top will hold 43.22 percent of i-Cable. Wharf sold off i-Cable, its pay TV and broadband business, after it struggled to make a profit.