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CKH to Sell Entire 49% Stake in VodafoneThree for HKD45.494B
2026-05-05 12:11:21 CKH HOLDINGS (00001.HK) announced that its wholly-owned subsidiary, CK Hutchison Group Telecom Holdings Limited (CKHGT) had agreed to a buy out of its shares in VodafoneThree, the UK mobile telecom's business 51% owned by Vodafone Group Plc and 49% by CKHGT. The transaction is subject to regulatory approvals. It will allow the Group to monetize its investment at an attractive valuation, receiving GBP4.3 billion (HK$45.494 billion) for cancellation of its shares in VodafoneThree. Canning Fok, Deputy Chairman of CK Hutchison and Executive Chairman of CK Hutchison Group Telecom Holdings, said that the Group was one of the first in the world to invest in 3G mobile telecommunications with the establishment of 3UK in 2000 and introduce ground-breaking mobile broadband telephony to consumers. The company has grown from a start-up mobile operator, and through merging and forming the present VodafoneThree, has become the number one operator in the UK by subscriber numbers and a market leader in the delivery of telecommunications products and services to UK consumers. The present transaction now allows the Group to realize the value of its investment in VodafoneThree for the benefit of the Group and its shareholders. ~ AASTOCKS Financial News Website: www.aastocks.com | |