Hutchison 3G

Hutchison to buy mobile operator Orange Austria

Hutchison 3G continues to grow its European mobile phone business with its acquisition of Austria’s third biggest mobile firm from France Telecom and Mid-Europa Partners.
<div style="text-align: left;">
Hutchison targets Austria as low valuations and tough competition squeeze France Telecom out
</div>
<div style="text-align: left;"> Hutchison targets Austria as low valuations and tough competition squeeze France Telecom out </div>

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...

¬ 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