Hutch will spin off H3G UK next year; rumoured to be eyeing Xfera

23 May 2005

Richard Li Ka-shing has confirmed that his company Hutchison Whampoa intends to spin off its UK cellco H3G UK by summer 2006.

Meanwhile, Hutch is thought to be eyeing up a stake in Spanish 3G start-up Xfera, according to local press reports. Hutch is rumoured to be mulling a bid for a 50% stake in the cellco, which received a UMTS licence in 2000 but has yet to launch services.

Spain, United Kingdom, CK Hutchison, Hutchison 3G UK (Three UK), Xfera Moviles (Yoigo)