Patrick Frater Asia Bureau ChiefHenry Cheng Kar-shun, who is the chairman of property development group New World Development, has taken control of I-Cable, Hong Kong’s largest cable TV network operator and the territory’s second largest pay-TV operator.Cheng-owned company Celestial Pioneer disclosed that it had struck deals that give it 72% ownership of Forever Top, a company that owns a 43% stake in I-Cable.Celestial said that it was buying 40.5% of Forever Top from two existing investors. But it disclosed neither the identity of the exiting investors, nor the value of the transaction.
