Hutchison Whampoa looks to ditch its Partner

7 Jul 2009

Reuters is reporting that Hong Kong-based telecom group Hutchison Whampoa has called on potential buyers for its majority stake in Israeli cellco Partner Communications to submit bids by 8 July 2009. According to TeleGeography’s GlobalComms database, Partner is 50.38% owned by Hutchison Telecom International Limited (HTIL), itself a subsidiary of Hutchison Whampoa, with 44.48% held by the public and 5.14% by Israeli investors. One company reportedly interested in the stake is Israel-based Scailex Corp, which said: ‘At this stage we are talking about an initial examination, and there is no certainty the company will advance with this examination.’ The stake is worth an estimated USD1.2 billion to USD1.5 billion.