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HK's Hutchison shares halted pending court hearing on reorganization
2015-03-17 05:00:29| Real Estate - Topix.net
Hutchison Whampoa Ltd , the ports-to-telecoms group of Asia's richest man Li Ka-shing, requested a trading halt on its shares pending a court ruling on a proposed reorganization with Cheung Kong Holdings Ltd .
Tags: court
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Hutchison in exclusive talks to buy O2 UK for GBP 10.25 bln
2015-01-23 08:49:00| Telecompaper Headlines
(Telecompaper) Hong Kong's Hutchison Whampoa, the parent company of mobile operator 3 UK, announced that it has entered into exclusive talks with Telefonica about the acquisition of mobile operator O2 UK for GBP 9.25 billion in cash to be paid at closing and a further GBP 1 billion after the combined cash flow of 3 UK and O2 UK reaches an agreed threshold. Hutchison said that the transaction remains subject to due diligence over O2, agreement on terms and corporate and regulatory approvals. Separately, Hutchison finance director Frank Sixt told the Financial Times that the acquisition would be completed around the middle of 2016, assuming regulatory approval. Hutchison thinks it can find GBP 3 billion to GBP 4 billion of synergies through the merger. Analysts estimate that at GBP 10 billion, the price reflects 7-8 times 2015 estimated earnings, in line with what BT is paying for EE.
Hutchison offers $15B for Telefonica's UK mobile phone unit
2015-01-23 07:48:09| Telecom - Topix.net
Hong Kong billionaire Li Ka-shing's flagship company said Friday it's offering about $15 billion for the British business of European mobile phone operator Telefonica. Hutchison Whampoa Ltd., which already owns British mobile operator Three, said in a statement that it has been in "exclusive negotiations" with Telefonica SA over the past several weeks for the potential purchase of O2 UK.
Tags: phone
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Hutchison enters exclusive talks to acquire O2 for 10.25bn
2015-01-23 01:00:00| Total Telecom industry news
Deal set to create U.K.'s largest mobile operator but will likely face intense regulatory scrutiny before it can proceed.
Tags: exclusive
talks
acquire
enters
Telefonica in talks to sell O2 to Hutchison - report
2015-01-19 09:29:00| Telecompaper Headlines
(Telecompaper) Telefonica is in talks with Hutchison Whampoa about merging their subsidiaries Telefonica UK (O2) and 3 UK, a person with knowledge of the situation told the Financial Times. Telefonica has been examining various options for the future of O2 since summer 2014, and was in talks to acquire EE, which is now in due diligence to be bought by BT. Other potential partners for Hutchison include TalkTalk and Sky, the person said. Telefonica also has the option of floating O2 in the UK. Telefonica has been advised by UBS since last autumn. He added that there was no urgency to strike a deal as BT's acquisition of EE is not likely to be completed until 2016. According to analysts, Telefonica is likely to want over GBP 8 billion for its UK business and is said to prefer cash rather than shares in a merged group given its need to cut its debt. Hutchison Whampoa has been strengthening its European operations and has reached an agreement to buy Telefonica's business in Ireland and was in talks to merge its Italian operations with those of VimpelCom. Telefonica would not comment on the matter and Hutchison Whampoa was not available to comment.
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