Hutchison finds buyer for HGC

31 Jul 2017

Hutchison Telecommunications Hong Kong Holdings (HTHKH) is to sell its domestic fixed line business Hutchison Global Communications (HGC) to infrastructure investment management firm I Squared Capital. The HKD14.5 billion (USD1.86 billion) acquisition of Hutchison’s 100% interest in the fixed line operator is being carried out via I Squared’s unit Asia Cube Global Communications. The deal is expected to close in the fourth quarter of 2017. HTHKH says it will use the proceeds from the sale to continue growing its core mobile telephony business.

Hong Kong, CK Hutchison, HGC (formerly Hutchison Global Communications), Hutchison Telecommunications Hong Kong Holdings (HTHKH)