customers and another aimed at business customers, it would not strengthen the oligopoly of the telecommunications market of Hong Kong. Financial Times compared the disinvestment of Hutchison Global Communications by CK Hutchison Holdings in 2017 and New World Telecommunications by New World Development, were part of "the process of succession planning [of the largest tycoon families of Hong Kong] as the founders reach retirement age or pass away."; Cheng Yu-tung, the founder of New World Development, passed away in September 2016. The disinvestment was also rumoured as part of a total withdrew of Hong Kong market (), nevertheless the analyst concluded that the disinvestment by New World Development, was part of a project that strengthen the core business of the conglomerate. References External links Telecommunications companies of Hong Kong Telecommunications companies established in 1992 Chinese companies disestablished in 2016 Former New World Development subsidiaries 1992 establishments in Hong Kong 2016 disestablishments in Hong Kong Telecommunications companies disestablished in 2016