Hutchison to buy mobile operator Orange Austria

Hutchison 3 Austria will buy Orange Austria in a deal valued at 1.3 billion $1.7 billion, according to a statement by Hutchison Whampoa, the mobile phone unit’s Hong Kong parent, on Friday.

The purchase includes debt, and 3 Austria will sell assets worth 390 million to Telekom Austria’s A1, the country’s leading mobile company. Hutchison expects to complete the acquisition of Orange from France Telecom and equity-fund Mid-Europa Partners which own 35% and 65% of the equity respectively by the middle of the year.

The Hong Kong conglomerate, controlled by Li Ka-shing, has five core businesses that range from ports to property, retail to infrastructure, as...