Glonghui, Feb. 16 | Motong Development Research Report said that the return of local pay TV licenses for cable TV owned by Cable Broadband (1097.HK) will have mixed effects on the pay TV business of Hong Kong Telecom (6823.HK) Now TV. The bank also favors PCCW (0008.HK). Motong said that after losing money for more than 10 years, cable TV withdrew from the local pay TV business due to increased competition between Now TV Pay TV and its online OTT platform. The bank believes that Now TV's short-term market position has been strengthened as a result, but the cable exit may reflect the long-term challenges of Now TV facing online streaming platforms. The bank went on to say that although Hong Kong Telecom's business portfolio is diversified and has stable performance, it is concerned about its long-term prospects, including the development of pay TV, and the estimated narrowing of the dividend rate to maintain a “neutral” investment rating. The bank is more favored by the bank. Since the estimated dividend rate is 10%, which is higher than HKT 7%, and for Hong Kong Telecom, which holds 52% of HKT's shares, the current holding company of the Bank has a 28% discount, which is higher than the average of 20%.