Hong Kong telecom tycoon Richard Li (
The 40-year-old Li, the younger son of billionaire Li Ka-shing (
The Hong Kong Economic Journal, owned by Lam Shan-muk (林山木) and his wife Lam Lok Yau-mui (林駱友梅), at the time agreed to gradually sell their 50 percent stake to Li, and they have now sold another 20 percent to him, Ming Pao Daily News reported yesterday.
A spokesman for Li did not immediately return a reporter's call seeking comment.
The acquisition by Li, chairman of Hong Kong telecom company PCCW Ltd (
PCCW, a leading phone operator, also holds a license for a pay-television service.
Broadcasting authority spokeswoman Viola Kwan said the government is still investigating Li's interest in the Journal.
Analysts said when Li bought into the newspaper he may be interested in other media properties.
Li has tried but failed to make PCCW into a high-tech powerhouse. Last year he tried unsuccessfully to sell his controlling stake in PCCW.