The Communications Administration announced that it has approved the application for change in the shareholding structure submitted by Cable TV and Wonderland TV, which involves the transfer of certain shares by existing shareholders in Wing Shing Asia to Celestial Pioneer Limited. Yongsheng holds 43.22% of the voting shares in Cable Broadband (01097.HK), and the above approval allows Celestial Pioneer to make a full offer for Cable Broadband shares.

The Communications Bureau has advised that according to the information submitted by Cable TV and Magic TV, this equity change will not result in any material change in the statutory and beneficial ownership of the licensee, and when the change in the shareholding structure of Cable TV and Magic TV is completed, Yongsheng's stake in Wired Broadband (the major shareholder of Cable TV and Magic TV) will remain unchanged at 43.22%.

Satisfied that HKCTV and Wonderland TV will continue to comply with the Broadcasting Ordinance (Cap. 562) and all regulatory requirements applicable to them under the relevant licences after the completion of the shareholding changes, and will honour their investment and programme commitments in accordance with the terms of the licence, the application is therefore approved.