Hutchison Telecommunications Hong Kong Holdings (HTHKH) has announced that it is to acquire the 24.1% of its mobile subsidiaries that it does not already own to give it full control of its wireless operations in both Hong Kong and Macau. The Hong Kong company will pay HKD471 million (USD60 million) to long-term partner NTT DOCOMO of Japan for its shares in Hutchison Telephone Company Limited (HTCL) and Hutchison 3G Hong Kong Holdings (H3GHK). The transaction is due to close on 31 May 2019. HTHKH says it will pay for the shares with the cash proceeds from the disposal of its fixed line business in October 2017.
Hutchison and DOCOMO also say they have ‘agreed to enter into a consultation and cooperation agreement … to discuss and explore the feasibilities and possibilities of joint and mutual collaboration … within the field of mobile telecoms products and services to continue the close and good working relationship’.