Hutch gets £3.1b from GIC, funds for O2 bid

Hutchison Whampoa secures £3.1 billion of investments from GIC, Canada Pension Fund, and three other funds in exchange for a 33% stake in the combined British O2 and Three business.

Hutch gets £3.1b from GIC, funds for O2 bid

Hutchison Whampoa said on Friday that it has entered into an agreement with five institutional investors to sell a third of the combined Three and O2 UK business for 3.1 billion $4.72 billion.

One of the investors, Singapore sovereign wealth fund GIC, said in a separate release that it plans to invest 1.1 billion, meaning the remaining 2 billion would be covered by Canada Pension Plan Investment Board, Abu Dhabi...

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