Hong Kong billionaire Li Ka-shing expects to delist Hutchison Whampoa on 3 June after a court approved plans to reorganise his ports-to-telecoms business empire.
Hutchison Whampoa got the go-ahead to merge with Li’s other listed flagship unit CK…
Hong Kong billionaire Li Ka-shing expects to delist Hutchison Whampoa on 3 June after a court approved plans to reorganise his ports-to-telecoms business empire.
Hutchison Whampoa got the go-ahead to merge with Li’s other listed flagship unit CK Hutchison (CKH), ahead of plans to spin off their property assets into a new company called CK Property.
Li aims to list CK Property separately on Hong Kong’s stock exchange to give investors a clearer picture about their holdings.
The merger will give 0.684 CKH shares for each share in Hutchison Whampoa, which has telecoms operations in 12 countries across Europe and Asia.
Shareholders overwhelmingly approved the deal last month.
Meanwhile, Hutchison Whampoa has recently confirmed it is in talks with Russian telco VimpelCom about forging a JV between their respective Italian mobile units, Wind Telecomunicazioni and 3 Italia.
