	cable and wireless details merger of h k units cable and wireless plc cawl l said it will merge its hong kong telephone co ltd telh hk and cable and wireless hong kong ltd units into a new holding firm to be called hong kong telecommunications ltd under the merger h k telephone shareholders will receive two h k telecommunication shares at a par value of h k cents for each h k telephone share at par of one dlr h k telephone shareholders other than the cable and wireless group will receive warrants on a one for five basis entitling them to uire from cable and wireless plc within five years one h k telecom share at dlrs each the cable and wireless plc group now holds some pct of h k telephone it also owns pct of cable and wireless hong kong while the hong kong government holds the balance trading in h k telephone shares was suspended on october the shares last traded at dlrs reuter 
