Hutchison Whampoa looking to delist HTIL

5 Jan 2010

Hong Kong-based mobile group Hutchison Telecommunications International Ltd (HTIL) revealed yesterday that its parent group Hutchison Whampoa Ltd is preparing to launch an offer to take the firm private. HTIL said in a statement to the Hong Kong Stock Exchange: ‘the board of directors of Hutchison Telecommunications International Ltd has received an approach from…Hutchison Whampoa regarding a possible general offer to the company’s shareholders and option holders.’ Hutchison Whampoa currently holds approximately 60% of equity in HTIL, which operates in Indonesia, Vietnam, Sri Lanka and Thailand. TeleGeography notes that HTIL shrunk its number of consolidated units to four in 2009, and has suspended reporting on Thai subsidiary Hutchison CAT Wireless Multimedia whilst it negotiates the sale of its stake to joint venture partner CAT Telecom. In late October HTIL completed the sale of a controlling stake in Israel’s Partner Communications. In May the group spun off and listed its Hong Kong and Macau operations.