| Hutchison Whampoa, Asian billionaire Li Ka-shing’s acquisitive conglomerate, has revealed that Singapore and Abu Dhabi’s sovereign wealth funds are among investors paying up to £3.1 billion ($6bn) for a third of the Hong Kong company’s soon-to-be-enlarged British mobile operations.
The stake sale is in line with Hutchison’s strategy of using as little debt as possible to pay for acquisitions, which have accelerated this year in Europe. Earlier this year, Hutchison, already owner of British wireless company Three, said it was buying British mobile-phone operator O2 from Spain’s Telefonica for £9.25bn, plus up to £1bn later if the newly combined company meets cashflow targets. The stake sale will reduce Hutchison’s outlay by a third...............................................Full Article: Source
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