Hutchison buys out EUR470 million stake

23 Dec 2004

Hutchison Whampoa reported today that it paid EUR469.6 million to buy out a 1.6% stake in its Italian 3G mobile arm held by CIR unit Cirtel. The total amount included a loan made by Cirtel to the venture. Hutchison went on to say that it expects its worldwide 3G operations to reach 6.5 million users by the end of this year.

Italy, CK Hutchison