Hutch seeks independent H3G valuation

25 Jun 2003

Hutchison Whampoa [13.HK] has asked an independent bank to value its 65% owned subsidiary H3G after fellow shareholder KPN requested it buy its 15% stake at a 40% premium. The relationship between the pair has been strained since KPN refused to pay its part of a GBP1 billion loan to H3G, claiming it was under no obligation to do so. Indeed, Hutchison has initiated legal proceedings against the Dutch telco in a London high court.

Hong Kong