BOC International raised the cable broadband (1097.HK) rating from sale to purchase, while raising the target price from HK$0.88 to HK$1.4. BOC International said it was surprising that the company received exclusive broadcasting rights for the 2010-13 English Premier League in Hong Kong. Although the economic benefits of this move were limited, this pre-emptive attitude helped reshape its image. The fees paid by Cable Broadband for this are unclear, but judging from how PCCW (0008.HK) obtained broadcasting rights in 2007-10, Cable Broadband is expected to receive HK$40 million to HK$60 million in revenue. Some of PCCW's subscribers will also switch to cable broadband as a result, which will also help Cable Broadband retain 2010 World Cup customers.

Cable broadband fell 5.8% to HK$1.13 on Wednesday.