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(AFX UK Focus)
2005-06-29 06:28
Macau tycoon Stanley Ho ousts sister from family casino business - report |
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HONG KONG (AFX) - Macau tycoon Stanley Ho has led a revolt to oust his sister Winnie from the family's multi-billion dollar casino business, the South China Morning Post reported. Shareholders in the family's STDM business, which owns SJM -- the operator of Ho's 15 casinos -- voted to expel Winnie as a shareholder following a dispute over dividend payments, it said. "What she has done has made it impossible for us to remain brother and sister," the paper quoted Stanley Ho as saying. Although the move has to be approved by a court, company officials said they are confident it will be ratified. Winnie would be forced to sell up her 6 bln patacas (769 mln usd) worth of shares in the firm, the paper said. mmc/lh/rc |
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