Richard Li (Pacific Century Group)
├─ via Pacific Century Regional Developments (PCRD) ──┐
└─ via PCGH & other vehicles (deemed interest) │
│ (~25% PCRD stake in PCCW; additional deemed interest)
China United Network Communications Group (China Unicom) ─┤ (~18.4% of PCCW)
Public & other institutions (BlackRock, Vanguard, etc.) ─┘ (free float, smaller stakes)
▼
PCCW Limited
│ (controlling unitholder of HKT)
▼
HKT Trust + HKT Limited (stapled)
│ │
└─ managed by HKT Management Ltd (trustee-manager)
│
┌─────────────────────────┴───────────────────────────┐
▼ ▼
HKT (International) Limited Regional Link Telecom Services Holdings Ltd (60% HKT / 40% CMG)
├─ PCCW Global Limited (100%) └─ Fiber Link Global Ltd (HK) — “Passive NetCo” (100%)
└─ PCCW Global, Inc. US (100%)
└─ Console Connect Pte. Ltd. (SG)