hutchison-makes-545-million-offer-to-take-htil-private

Hutchison makes $545 million offer to take HTIL private

The offer comes after the sale of the mobile businesses in India and Israel, and the separate listing of the Hong Kong and Macau operations, left HTIL with four businesses at the early growth stages.

Hutchison Whampoa on Friday made an offer for the 39.6% of Hutchison Telecommunications International Ltd HTIL that it doesn't already own, with the aim of making the mobile company a wholly owned subsidiary. Hutchison offered HK$2.20 in cash for each share, or the US dollar equivalent of HK$33 per American depositary share, which values the total offer at HK$4.23 billion $545 million, assuming all outstanding share options are exercised by the record date.

The proposed privatisation and delisting comes after HTIL, which is listed both in Hong Kong and New York, sold its controlling stake in India's third largest mobile operator, Hutchison Essar, to Vodafone in 2007 and its controlling...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222