HK Court Blocks PCCW Buyout Bid

9:41 PM ET Wed, 22 April 2009

The Hong Kong Court of Appeal has blocked PCCW chairman Richard Li's $2.2 billion bid to privatize the telco on Wednesday, overturning an earlier ruling by the High Court. David Webb, editor of Webb-site.com assesses this ruling, with CNBC's Martin Soong & Emily Chan.