I-Cable Communications fall 38 pct as parent plans exit

HONG KONG, March 10 (Reuters) - Shares of I-cable

Communications Ltd are set to open 37.6 percent down

after parent Wharf (Holdings) Ltd said it would not

renew funding commitments to the firm on expiry.

The stocks is set to open at HK$0.58, the lowest since Jun.


Wharf said it would not provide further funding to the

company on expiry of the current commitments and had no

intention to increase its stake in the firm, exiting its

investment in pay television and broadband internet businesses.

Wharf also said it had terminated all discussions regarding

sales of I-Cable.

Wharf shares are set to open up 4 percent.

(Reporting by Donny Kwok; Editing by Richard Pullin)