Shareholders say yes to HTIL privatisation

Hutchison Whampoa will pay $545 million to take HTIL private after asset sales and a spin-off have left the company with four emerging mobile businesses that are all in need of significant capital injections.

The independent shareholders of Hutchison Telecommunications International Ltd HTIL yesterday voted yes to a privatisation of the company by Hutchison Whampoa, clearing the way for a HK$4.23 billion $545 million payout that will mark the end of what has been a very profitable venture for investors.

Excluding the final buyout, HTIL has generated total returns of 178% for its shareholders since its initial public offering in 2004, according to Hutchison's estimates, which translates into an annualised return of 22%...

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